Reference no: EM133001873

Problem 1: A note payable for $13,000 that was payable in 180 days with an annual interest rate of 10 percent would require an interest payment of $______ on its due date. (Assume that a year has 360 days for the purposes of this calculation.)

Problem 2: A 60-day note for $5,000 with an interest rate of 12 percent per annum will have a maturity value of $_______ . (Assume that there are 360 days in a year for the purpose of calculating the interest.)

Problem 3: What is the interest on a note receivable whose principal amount is $20,000 with an interest rate of 8% that will be paid in 90 days?