1.) The bank at the rate of 15.75% discounts a promissory note with a face value of 35,000. The term of the note is 3 months. Find the proceeds of the note.

2.) A promissory note has a face value of 50,000 and is discount by the bank at the rate of 18 1/2 %. If the note is made 180 days, find the discount of the note.

3.) ABC Company accepted an interest-bearing note for 150,000 with 9% annual ordinary interest. The note was made April 16 and was due on December 12. The company needs cash and took the note to Bank of the Philippine Islands were offered to buy the note at a discount rate of 12%. The discount transaction was made on July 13. Calculate the following.

a.) term of the note d.) discount period

b.) simple interest e.) discount

c.) maturity value f.) proceeds