1. A holder of a $8000, 10%, 240-day simple interest note decides to sell /discount the note after 50 days The note is sold at a discount rate of 15%. Find the maturity value of the simple interest note, then find the proceeds of the discount note by using the formula B=MDT, and Proceeds = M-B. Remember, for the second part of the question, do not use the original note principal, rate and time, use only the maturity value from part one and the discount rate and compute the time of the discount note . Maturity value of the interest note $______________ Proceeds from the discount note $________________

2. The Gibralter Company loaned $6285 for 60 days on April 14 to the Hazen Company for the purchase of business supplies. The Gibralter Company sold the 10% simple interest note on June 1 at a 12% discount rate. Find the discount period and the proceeds at the time of the discount. Discount Period _____________ Proceeds at the time of discount $______________

3. EXTRA CREDIT: First, find the initial proceeds of the simple discount note. Then, find the discount period, the discount, and proceeds after discounting. Date Loan Was Made: Jan. 17 Maturity Value: $10,000 Due Date : April 19 Rate: 10% Date of Discount: Mar. 10 Discount %: 11% Initial Proceeds $_______________ Discount Period in days ____________ Proceeds after discounting $ __________________