17. A 100-day note with a face amount of $54,000 and interest rate of 9% is issued on June 1. (6 points)

Required:

1.Compute the following using a 360-day year:

1. Maturity value of the note $___________

2. Maturity date___________

3. Interest$___________

2.The note is discounted on July 1. The bank discount rate is 12%. Compute the following:

a. Number of days in the discount period ___________

b. Discount amount$___________

c. Proceeds$___________