Date Issued Term of the Note Due Date 1. January 1 30 days __________ 2. January...
| Date Issued |
Term of the Note |
Due Date |
|
| 1. | January 1 |
30 days |
__________ |
| 2. | January 15 |
30 days |
__________ |
| 3. | March 20 |
60 days |
__________ |
| 4. | March 20 |
3 months |
__________ |
| 5. | June 18 |
90 days |
__________ |
Compute the amount of accrued interest on the following
notes:
|
|
Interest |
|
Accrued |
|
| 6. |
$7,800 |
9.0% |
75 days |
__________ |
| 7. |
3,600 |
12.5% |
45 days |
__________ |
| 8. |
2,700 |
9.9% |
90 days |
__________ |
| 9. |
4,300 |
6.2% |
6 months |
__________ |
| 10. |
5,500 |
11.0% |
120 days |
__________ |
Compute the number of days from the issue date to the maturity date
for the following notes:
|
Issue Date |
Maturity Date |
Term of the Note |
|
| 11. | March 14, 2010 | June 12, 2010 |
__________ |
| 12. | September 27, 2010 | December 11, 2010 |
__________ |
| 13. | November 11, 2010 | March 14, 2011 |
__________ |
| 14. | July 31, 2010 | October 29, 2010 |
__________ |
| 15. | June 29, 2010 | July 11, 2010 |
__________ |
Homework Answers
| Date Issued |
Term of the Note |
Due Date |
|
| 1. | January 1 |
30 days |
January 31 |
| 2. | January 15 |
30 days |
February 14 |
| 3. | March 20 |
60 days |
May 19 |
| 4. | March 20 |
3 months |
June 20 |
| 5. | June 18 |
90 days |
Sept 16 |
Compute the amount of accrued interest on the following notes:
|
|
Interest |
|
Accrued |
|
| 6. |
$7,800 |
9.0% |
75 days |
7800*9%*75/360 = 146.25 or 146 |
| 7. |
3,600 |
12.5% |
45 days |
3600*12.5%*45/360 = 56.25 or 56 |
| 8. |
2,700 |
9.9% |
90 days |
66.825 or 67 |
| 9. |
4,300 |
6.2% |
6 months |
133.3 or 133 |
| 10. |
5,500 |
11.0% |
120 days |
201.67 or 202 |
Compute the number of days from the issue date to the maturity date
for the following notes:
|
Issue Date |
Maturity Date |
Term of the Note |
|
| 11. | March 14, 2010 | June 12, 2010 | 90 days |
| 12. | September 27, 2010 | December 11, 2010 | 75 days |
| 13. | November 11, 2010 | March 14, 2011 | 123 days |
| 14. | July 31, 2010 | October 29, 2010 | 90 days |
| 15. | June 29, 2010 | July 11, 2010 | 12 days |
Add Answer to:
Date Issued
Term of the Note
Due Date
1.
January 1
30 days
__________
2.
January...
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