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-   -   Determining notes due dates and maturity (https://www.askmehelpdesk.com/showthread.php?t=196096)

  • Mar 18, 2008, 05:31 PM
    sunfiregirl
    Determining notes due dates and maturity
    Note (1) Date Dec. 23 Principal Amount $13000 Interest rate 9% Term 1 year
    Note (2) Date Nov. 30 Principal Amount 12000 Interest rate 12% Term 6 months
    Note (3) Date Dec. 7 Principal Amount 9000 Interest rate 10% Term 30 days

    How to I determine the due date and maturity value of each note? Please help me!
  • Mar 18, 2008, 06:01 PM
    ChaliceHolder
    The term tells you the due date. That means the 1-yr note comes due on Dec 23rd next year, the Dec 7th note comes due Jan 6th (30 days) etc. For the maturity value calculate the interest using the formula P X R X T and add it to the principal.
    That means for Nov 30th, you would calculate 12,000 X (12/100) X (6/12)

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