Homework Answers
| Maturity Date | Interest | |
| Month | Day | |
| December | 3 | $ 533.33 |
| August | 8 | $ 882.00 |
| December | 14 | $ 810.00 |
| September | 4 | $ 252.08 |
| November | 14 | $ 360.00 |
Working:
| a) | Interest = Principal * Interest rate * no of days outstanding/ total no. of days |
| Interest = (20000*8%*(120/360)) = $ 533.33 /- | |
| Maturity date = 3rd Dec (5 August + 120 days = 3 December) | |
| b) | Interest = (50400*7%*(90/360)) = $ 882.00 /- |
| Maturity date = 8th Aug | |
| c) | Interest = (72000*9%*(45/360)) = $ 810 /- |
| Maturity date = 14th Dec | |
| d) | Interest = (13750*11%*(60/360)) = $ 252.08 /- |
| Maturity date = 4th Sep | |
| e) | Interest = (27000*8%*(60/360)) = $ 360 /- |
| Maturity date = 14th Nov | |
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