Determine the missing amounts

Reference no: EM131761542

Question: Presented below are data on three promissory notes.

Determine the missing amounts. (Round answers for Total Interest to 0 decimal places, e.g. 825. Round annual interest rate to 0 decimal places, e.g. 15%.)

Date of Note

Terms

Maturity Date

Principal

Annual Interest Rate

Total Interest

(a)

April 1

60 days

(May 1May 30May 31June 1July 31August 1August 2August 31September 1September 6September 7September 8September 30)

$605,200

(b)

July 2

30 days

( May 1May 30May 31June 1July 31August 1August 2August 31September 1September 6September 7September 8September 30)

94,530

$630

(c)

March 7

6 months

(May 1May 30May 31June 1July 31August 1August 2August 31September 1September 6September 7September 8September 30)

112,550

Reference no: EM131761542

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