The interest due at the maturity of a two month, 10%, $600 note is calculated by multiplying $600 × 10% × 2/12.

Name: The interest due at the maturity of a two month, 10%, $600 note is calculated by multiplying $600 × 10% × 2/12.
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The interest on a note is calculated using the formula: Principal × Rate × Time. Here, the principal is $600, the annual interest rate is 10%, and the time is 2 months out of 12, which is represented as 2/12 in the formula.

The Interest Due at the Maturity of a Two Month