53 rks Window Help riohondo.instructure.com 795@gmail.com- Gmail WileyPLUS Homep

Question

53 rks Window Help riohondo.instructure.com 795@gmail.com- Gmail WileyPLUS Homepage tice Gradebook ORION Downloadable eTextbook ment Brief Exercise 8-9 Compute interest and find the maturity date for the following notes. (Use 360 days for calculation) Date of Interest Principal $90,000 $64,000 $43,200 Terms 60days 90days 75 days Interest Maturity Date (a) (b) (c) Note June 10 July 14 April 27 Rate (%) 696 7% 8% Quest rt rt 7 John Wiley & Sons, Inc, All Rights Reserved. A Division of John Wiley & Sons, Inc

Explanation / Answer

(principal * interest rate * days / 360) Date of note Principal Interest rate Terms Interest Maturity date a) June 10 90000 6% 60 days 900 09-Aug b) July 14 64000 7% 90 days 1120 12-Oct c) April 27 43200 8% 75 days 720 11-Jul

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