A long term promissory note with a maturity value of $4750.56 is due on April 5, 2013. On June 7, 2010, the holder of the notes sells it to a bank who discounts the note at j2 = 10%. Using the practical method, calculate the price the bank paid for the note. A long term promissory note with a maturity value of $4750.56 is due on April 5, 2013. On June 7, 2010, the holder of the notes sells it to a bank who discounts the note at = 10%. Using the practical method, calculate the price the bank paid for the note.