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Compute the maturity date and interest for the following notes. (Use 360 days for calculation.)
(a) April 17
(b) August 11
(a)
Dates of Notes Terms
45 days
2 months
(b)
Maturity date
June 1
October 11
$
$
Principal Interest Rate
$53,120
79,200
Interest
5%
8%

Respuesta :

anthougo

The computation of the maturity date and interest for the following notes are:

Notes     Maturity Date     Interests

a)               June 1                $332

b)               October 11      $1,056

What is the maturity date of a loan?

The maturity date of a loan is the date the loan or note is due for settlement.

On the maturity date, the note is usually paid with the principal and interest.  The interest amount depends on the maturity date, the principal, and the interest rate.

Data and Calculations:

Dates of Notes      Terms      Maturity date  Principal   Interest Rate

a) April 17             45 days         June 1            $53,120      5%

b) August 11        2 months    October 11         79,200      8%

Notes:

A) Interest = $332 ($53,120 x 5% x 45/360)

B) Interest = $1,056 ($79,200 x 8% x 60/360)

Learn more about computing maturity dates and interests at https://brainly.com/question/18802900

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