1.         CALCULATING THE MATURITY DATE 1 2 CALCULATING INTEREST
Time Number of Days
March 2 through (31–2=29)    
1. Compute the number of days in the first month.
April 30
May 31
June 30
July 31
August 1 through (Maturity date: Aug. 29)
180 days 1 2
2. Add the number of days in subsequent months until the total equals the number of days of the note.
CALCULATING INTEREST    
Lesson 9-1, page 253

2. PAYING A NOTE PAYABLE 2 3 1 1. Principal of note. 2. Interest of note.
3. Maturity value of note. 3
1. Principal of note. 1
Lesson 9-1, page 254

3. TERMS REVIEW promissory note notes payable date of a note
principal of a note
maturity date of a note
interest
interest rate of a note
interest expense
maturity value
Lesson 9-1, page 255