Question

1) The interest of a $4,000, 6%, 4 months note is: *

2) The interest of a $11,000, 5%, 45 days note is: *

3) The maturity date of a 7 months note dated March 10 is: *

4) The maturity date of a 62 days note dated April 20 is: *

5) The interest of a $2,000, 7%, 50 days note is: *

6) The maturity date of a two years note dated January 15, 2020 is: *

Answer 1

1) The interest of a $4,000, 6%, 4 months note is = $4,000 * 6% *4/12 = $80.

2) The interest of a $11,000, 5%, 45 days note is = $11,000 * 5% * 45/365 = $67.81.

3) The maturity date of a 7 months note dated March 10 is = March 10 + 7 months = October 10.

4) The maturity date of a 62 days note dated April 20 is: April 20 + 62 days = June 21.

5) The interest of a $2,000, 7%, 50 days note is = $2,000 * 7% * 50/365 = $19.18.

6) The maturity date of a two years note dated January 15, 2020 is = January 15,2020 + 2 years = January 15,2022.