Kate Johnson, president of BQ Industries, executed a note payable on behalf of the company on October 1, 2012 in the amount of $125,000 with an interest rate of 8% for 15 months.
Calculate the following items:
1. The total interest to be paid over the term of the note
2. The interest that should be accrued at December 31, 2012 (the FYE)
3. The maturity value of the note when the note is due
4. The date that the note is due

Question

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The Answer of Kate Johnson, president of BQ Industries, executed a note payable on behalf of the company on October 1, 2012 in the amount of $125,000 with an interest rate of 8% for 15 months.
Calculate the following items:
1. The total interest to be paid over the term of the note
2. The interest that should be accrued at December 31, 2012 (the FYE)
3. The maturity value of the note when the note is due
4. The date that the note is due

Kate Johnson, President of BQ Industries, Executed a Note Payable