1.) The amount of interest on a 10,500 , 90 day, 9 % note payable is? $________

Question

1.) The amount of interest on a 10,500 , 90 day, 9 % note payable is? $________

2.) The maturity value of a $12,000, 45-day,8% note receivable is? $_______

3.) When one borrows from a bank that charges a discount rate of 8.5%, the amount one actually receives on an $8,500, 60-day, non-interest bearing note payable is? $_______

4.) The due date of a 90-day note dated June 12th is? __________

5.) The due date of a 4 month note dated September 10 is ?_________

6.) The discount period of a $12,000, 90-day, 7.5 % note, dated March 15 and discounted April 18, is _____ days.

Explanation / Answer

1) 236.25 2) 120 3) 8379.58 4) 9th September 5)9th January 6) 55 days

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