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Unformatted text preview:+ $ 1,367.67 = $ 65,367.67 May 31, accepted $60,000, 90-day, 11% note receivable Maturity Date Aug-29 Days Remaining in May Days in June 30 Days in July 31 Days in August 29 Total days 90 Interest at maturity: Principal x Rate of Interest x $ 60,000 x 11 / 100 x 90 Maturity Value: Principal + Interest = Maturity Value $ 60,000 + $ 1,627.40 = $ 61,627.40 2 Accrued interest income as of June 30 Time * Principal x Rate of Interest x May-03 $ 120,000 x 12 / 100 x May-16 $ 64,000 x 13 / 100 x May-31 $ 60,000 x 11 / 100 x Total Whitley Time = Interest / 365 = $ 3,550.68 Time = Interest / 365 = $ 1,367.67 Time = Interest / 365 = $ 1,627.40 Time = Interest 58 / 365 = $ 2,288.22 45 / 365 = 1,025.75 30 / 365 = 542.47 = $ 3,856.44