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. |
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Thus, corect statement is | ||||||

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