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Determine the Due Date and the Amount of Interest Due

Question 166

Essay

Determine the due date and the amount of interest due at maturity on the following notes:?  Date of Note  Face Amount  Interest Rate  Term of Note  (a)  October 1$21,0008%60 days  (b)  August 309,00010120 days  (c)  May 3012,0001290 days  (d)  March 615,000960 days  (e)  May 23 9,0001060 days \begin{array} { | c | l | r | c | c | } \hline & { \text { Date of Note } } & \text { Face Amount } & \text { Interest Rate } & \text { Term of Note } \\\hline \text { (a) } & \text { October } 1 & \$ 21,000 & 8 \% & 60 \text { days } \\\hline \text { (b) } & \text { August } 30 & 9,000 & 10 & 120 \text { days } \\\hline \text { (c) } & \text { May } 30 & 12,000 & 12 & 90 \text { days } \\\hline \text { (d) } & \text { March } 6 & 15,000 & 9 & 60 \text { days } \\\hline \text { (e) } & \text { May 23 } & 9,000 & 10 & 60 \text { days } \\\hline\end{array}

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