Compute the maturity date and interest for the following notes. Dates of Notes Terms Principal Interest Rate (a) April 17 45 days $ 60 , 000 5 % (b) Auqust 11 2 months 90.000 8 % \begin{array}{lrr} & ext { Dates of Notes } & ext { Terms } & ext { Principal} & ext { Interest Rate }\ \hline ext {(a) } & ext { April } 17 & 45 ext { days } & \$ 60,000 & 5 \%\\ ext { (b) } & ext { Auqust } 11 & 2 ext { months } & 90.000 & 8 \%\end{array} (a) (b) Dates of Notes April 17 Auqust 11 Terms 45 days 2 months Principal $60 , 000 90.000 Interest Rate 5% 8%

Question

Compute the maturity date and interest for the following notes.    Dates of Notes   Terms   Principal  Interest Rate  (a)   April  17 45  days  $ 60 , 000 5 %  (b)   Auqust  11 2  months  90.000 8 % \begin{array}{lrr} & 	ext { Dates of Notes }  & 	ext {  Terms }  & 	ext {  Principal}  & 	ext {   Interest Rate }\ \hline 	ext {(a)  }  & 	ext {  April } 17 &  45 	ext { days }  & \$ 60,000  &  5 \%\\ 	ext { (b) }  & 	ext { Auqust } 11  &  2 	ext { months }  & 90.000  & 8 \%\end{array} (a)   (b)  ​  Dates of Notes   April  17  Auqust  11 ​  Terms  45  days  2  months  ​  Principal $60 , 000 90.000 ​  Interest Rate  5% 8% ​ ​

Ashley Bucher · Accepted Answer

Final Answer :   Maturity Date Interest  \quad 	ext { Maturity Date\quad\quad \quad Interest }  Maturity Date Interest  (a)    \quad   June    \quad  1 $ 375 ( $ 60 , 000 × . 05 × 45 / 360 )  1 \quad\quad\quad \$ 375(\$ 60,000 	imes .05 	imes 45 / 360)  1 $375 ( $60 , 000 × .05 × 45/360 ) (b)    \quad   October   11 $ 1 , 200 ( $ 90 , 000 × . 08 × 2 / 12 )  11 \quad \quad \$ 1,200(\$ 90,000 	imes .08 	imes 2 / 12)  11 $1 , 200 ( $90 , 000 × .08 × 2/12 )

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