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7 Homework Saved Determine the maturity date and compute interest for each note. (Use 360 days...

7 Homework Saved Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermedi

7 Homework Saved Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermediate calculations.) Note Contract Date March 11 May 25 October 22 Interest Rate 5% Principal $24,000 24,000 18,000 Period of Note (Term) 60 days 90 days 45 days 2. Contract Date Maturity Month Maturity Date Sate Interest Expenses ces 1 March 11 2 May 25 3 October 22
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Contract date Maturity Month Maturity date Interest expense
1 March 11 May May 9 $200 ($24,000*5%*60/360)
2 May 25 August August 22 $420 ($24,000*7%*90/360)
3 October 22 December December 5 $90 ($18,000*4%*45/360)
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