1. Umar receives a promissory note dated 10 April 2020 with a simple interest rate of 6.5% per annum. The note will mature on 10 August 2020. After he keepd the note for 70 days, he sells the note to a bank at a discount rate of 7% and receives proceeds of 54.456.25. Find: A) Term of the note (2 marks) B) Maturity value (7 marks) C) Face Value (5 marks) D) Interest amount he receives (marks) E) Discount rate equivalent to the given interest rate