Answer :
The amount due at maturity for the note and interest is $8,670 and $170 respectively
According to the given information
Following is a calculation of the amount due at maturity and the interest:
For interest
= Amount received multiplied by the interest rate, the number of months, and the number of months in a year.
= $8,500 × 8% × 90 ÷ 360 days
= $170
Additionally, the sum owed when the note matures is
= Amount received plus interest
= $8,500 + $170
= $8,670
The amount due at maturity for the note and interest is $8,670 and $170 respectively.
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