Question

How much interest will accrue on a $20,000 face value, 60-day note that bears interest at 9 percent a year

Answer 1

$300
Interest for the whole year is $1800 (20,000 x 9%) so interest per month is $150 (1800/12). 60 days note, you earn 2 months interest ($150 x 2) $300

Answer 2

Hope you get it :)

Answer 3

They count 360 days in a year?