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Determine the Due Date and Amount of Interest Due at Maturity

Question 171

Essay

Determine the due date and amount of interest due at maturity on the following notes:?  Origination  Date  Face  Amount  Term  of Note  Interest  Rate  Maturity  Date  Interest  Amount (a) Mar. 15 $8,00060 days 9%______________(b) May 1 12,00090 days 8%______________\begin{array}{llccccc}&\begin{array}{c}\text { Origination } \\\text { Date }\end{array} & \begin{array}{c}\text { Face } \\\text { Amount }\end{array} & \begin{array}{c}\text { Term } \\\text { of Note }\end{array} & \begin{array}{c}\text { Interest } \\\text { Rate }\end{array} & \begin{array}{c}\text { Maturity } \\\text { Date }\end{array} & \begin{array}{c}\text { Interest } \\\text { Amount }\end{array} \\(a)&\text { Mar. 15 } & \$ 8,000 & 60 \text { days } & 9 \% & \_\_\_\_\_\_\_ & \_\_\_\_\_\_\_ \\(b)&\text { May 1 } & 12,000 & 90 \text { days } & 8 \% & \_\_\_\_\_\_\_ &\_\_\_\_\_\_\_ \\\end{array}

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(a)May 14; $120 ($8...

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