Maturity Dates of Notes Payable
Determine the maturity date and compute the interest for each of the following notes payable with add-on interest:
Use 360 days for calculations and round to the nearest dollar.
Date of note Principal Interest Rate (%) Term
a. August 5 $18,000 8% 90 days
b. May 10 11,400 7% 120 days
c. October 20 15,000 9% 45 days
d. July 6 7,500 10% 60 days
e. September 15 16,500 8% 60 days
For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box.
Maturity Date Interest
a. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer $Answer
b. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
c. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
d. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
e. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer
