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1000 DISCOUNTING PROMISSORY NOTES Try 13 On 3 May 2007, Mila received a 100-day promissory note with a simple interest rate 8% per annum. On
1000 DISCOUNTING PROMISSORY NOTES Try 13 On 3 May 2007, Mila received a 100-day promissory note with a simple interest rate 8% per annum. On 1 July 2007, she discounted the note at a discount rate 7% and received proceeds of RM3454.97 Find a) maturity date (11/8/2007) b) maturity value (RM3482.74) c) the value of bank discount (RM27.77) d) the face value (RM3407.03)
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