For the Following Promissory Note, Determine the Amount of Interest

question 47

Essay

For the following promissory note, determine the amount of interest due at maturity.
$1195.00 Ottawa, Ontario January 29, 2012. Nine months
after date we promise to pay to the order of Badger
Lumber Company * * * * * * * *EXACTLY* * * * * * *
1195.00* * * * * * * * * * *DOLLARS at Badger Lumber
Company for value received with interest
at 8.25% per annum.
Due ___________________ (Seal) ____________________
(Seal) ____________________

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Definitions:

Securities and Exchange Commission

A U.S. federal agency that oversees and enforces federal securities laws to protect investors and maintain fair, orderly, and efficient markets.

Insider Trading

Buying or selling a publicly-traded company's stock by someone who has non-public, material information about that stock.

Securities Exchange Act of 1934

A U.S. federal law that regulates the secondary trading of securities (stocks, bonds, and debentures) in the stock market.

Rule 10b-5

A regulation under the SEC that prohibits any act or omission resulting in fraud or deceit in connection with the purchase or sale of any security.