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Determine the maturity date and the total interest

Problem: Presented below are data on a promissory note. Determine the Maturity date and the total Interest. Please provide step-by-step instructions to figure the correct total interest.

Date of Maturity    Annual    Total
Note    Terms    Date    Principal    Interest Rate    Interest

April 1    60 days    May 31    $60,000    9%    $6,675

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Finance Basics: Determine the maturity date and the total interest

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Finance Basics: Determine the maturity date and the total interest

Reference No:- TGS02038824

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