Compute the interest accrued on each of the following notes payable owed by Northland, Inc. on December 31:

Use 360 days for calculations and round to the nearest dollar.

Lender Date of Note Principal Interest Rate (%) Term

Maple November 21 $23,000 10% 90days

Wynam December 13 19,000 9% 60days

Nahn December 19 21,000 12% 120days

The computation of accrued interest for each is shown below:

For Maple

= $23,000 * 10% * 40 days : 360 days

= $255.56

The 40 days are counted from 9 days in November and 31 days in December month

For Wynam

= $19,000 * 9% * 18 days : 360 days

= $855

The 18 days are taken from 18 days in December month

For Nahn

= $21,000 * 12% * 12 days : 360 days

= $840

The 12 days are taken from 18 days in December month