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Determine the due date and interest amount

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Question - SANCHEZ COMPUTER CENTER

Several banks have offered loans to the Sanchez Computer Center for its expansion. However, Freedman wants to weigh each option to determine the best financial situation for the company. Currently, the Sanchez Computer Center is trying to collect from its customers to strengthen the cash flow of the business.

Tasks -

1. Using the information provided by each bank, determine the due date and interest amount for each.

2. Bank of America A 90-day note dated April 15 for $20,000 at a 6% interest rate.

3. Bank One A 120-day note dated April 10 for $40,000 at a 5% interest rate.

4. Capital One Bank A 75-day note dated April 5 for $30,000 at a 4% interest rate.

Reference no: EM132504835

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