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
- January 15 $50,000 6% 30 days
- April 1 27,000 4 90 days
- June 22 30,000 6 45 days
- August 30 90,000 8 120 days
- October 16 72,000 5 50 days
Darshita Changed status to publish August 13, 2020
| Due Date | Interest at Maturity calculation | Interest at Maturity | |
| a. | Feb. 14 | [$50,000 × 0.06 × (30/360)] | 250 |
| b. | June,30 | [$27,000 × 0.04 × (90/360)] | 270 |
| c. | Aug. 6 | [$30,000 × 0.06 × (45/360)] | 225 |
| d. | Dec. 28 | [$90,000 × 0.08 × (120/360)] | 2400 |
| e. | Dec. 5 | [$72,000 × 0.05 × (50/360)] | 500 |
Darshita Changed status to publish August 13, 2020
