When calculating interest on a promissory note with the maturity date stated in terms of days. the

NEED HELP ASAS 8 When calculating interest on a promissory note with the maturity
date stated in terms of days, the

maker pays more interest if 365 days are used instead of
360.

maker pays the same interest regardless if 365 or 360 days are
used.

payee receives more interest if 360 days are used instead of
365.

payee receives less interest if 360 days are used instead of
365.

maker pays more interest if 365 days are used instead of
360.

maker pays the same interest regardless if 365 or 360 days are
used.

payee receives more interest if 360 days are used instead of
365.

payee receives less interest if 360 days are used instead of
365.

maker pays more interest if 365 days are used instead of
360.

maker pays more interest if 365 days are used instead of
360.

maker pays the same interest regardless if 365 or 360 days are
used.

maker pays the same interest regardless if 365 or 360 days are
used.

payee receives more interest if 360 days are used instead of
365.

payee receives more interest if 360 days are used instead of
365.

payee receives less interest if 360 days are used instead of
365.

payee receives less interest if 360 days are used instead of
365.

Suppose Interest has to paid
before base of no. of days of year
= 131,400.00
Case -1
If base is 365
Interest to be paid = 131400/365 = 360
Case-2
If base is 360
Interest to be paid = 131400/360 = 365
Thus, It is cleared from above
, by taking 360 base, maker pays more interest tha 365 days
base.
Thus, corect statement is
payee receives more interest
if 360 days are used instead of 365.

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