Reference no: EM13482611

1) The interest accrued on a $6,500 at 6% for 60 days is:

a) $36
b) $42
c) $65
d) $180
e) $420

2) A 90-day note issued on April 10 matures on:

a) july 9
b) july 10
c) july 11
d) july 12
e) july 13

3) A company receives a 10%, 90-day note for $1,500. The total interest due on the maturity date is:

a) $50
b) $150
c) $75
d) $37.50
e) $87.50

4) A company borrowed $10,000 by signing a 180-day promissory noteat 11%. The total interest due on the maturity date is:

a) $50
b) $275
c) $550
d) $825
e) $1,100

5) A company borrowed $10,000 by signing a 180-day promissory noteat 11%. The maturity value of the note is:

a) $12,050
b) $12,275
c) $10,550
d) $12,825
e) $13,100