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# Determine the maturity date and compute interest for each note. (Use 360 days a year. Do...

Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermediate calculations.) Note 1. Interest Rate Contract Date Principal March 13 \$21,000 May 05 27,000 October 20,000 5\$ Period of Note (Term) 60 days 90 days 45 days 24 Maturity Month Maturity Date Interest Expenses Contract Date 1. March 13 2. May 05 3. October 24

Calculate following

 Contract Date Maturity month Maturity date Interest expenses 1 March 13 May 12 May 21000*5%*60/360 = 175 2 May 05 August 3 August 27000*6%*90/360 = 405 3 October 24 December 8 December 20000*2%*45/360 = 50

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