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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.
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
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Answer #1

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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