Determine the Due Date and Amount of Interest Due at Maturity

question 31

Essay

Determine the due date and amount of interest due at maturity on the following notes (Assume 360 days in a year): $$\begin{array} { c c c c c c } \text { Origination Date } & \begin{array} { c } \text { Face } \\\text { Amount }\end{array} & \begin{array} { c } \text { Term } \\\text { of Note }\end{array} & \begin{array} { c } \text { Interest } \\\text { Rate }\end{array} & \begin{array} { c } \text { Maturity } \\\text { Date }\end{array} & \begin{array} { c } \text { Interest } \\\text { Amount }\end{array} \\\hline \text { (a) March 1 } & \$ 5,000 & 60 \text { days } & 9 \% & \underline{\quad\quad}&\underline{\quad\quad} \\\text { (b) May 15 } & \$ 9,000 & 120 \text { days } & 8 \% & \underline{\quad\quad} &\underline{\quad\quad} \\ \end{array}$$

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Definitions:

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Repressed Memories

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Disprove Interpretations

The process of demonstrating that certain explanations or understandings of phenomena are incorrect, often through the use of empirical evidence or logical reasoning.