A company receives a 10%, 90-day note for $1,500. The total interest due on the maturity date is:

A company receives a 10%, 90-day note for $1,500. The total interest due on the maturity date is:

A company receives a 10%, 90-day note for $1,500. The total interest due on the maturity date is: 




A. $ 50.00
B. $150.00.
C. $ 75.00.
D. $ 37.50.
E. $ 87.50.

$1,500 x 0.10 x 90/360 = $37.50


Answer: D