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Determine the maturity date and compute interest for each note. (Use 360 days a year. Do not round intermediate calculations.)Note Contract Date Principal Interest Rate Period of Note (Term)1. March 3 $ 12,000 6% 60 days2. May 17 17,000 8 90 days3. October 22 10,000 4 45 days

Answer :

abiolataiwo2015

The maturity date are May 2, August 15, December 5. The interest are $120, $340, $300.

Maturity date and interest

1. Maturity date

March 3    May 2

Interest= ($12,000×6%×60/360)

Interest=$120

2. Maturity date

May 17  August 15

Interest= ($17,000×8%×90/360)

Interest=$340

3. Maturity date

October 22  December 5

Interest= ($10,000×4%×45/60)

Interest=$300

Therefore the maturity date are  May 2, August 15, December 5. The interest are $120, $340, $300.

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