Chapter 8 - Simple Interest Applications Find the proceeds and the discount. A 110 day promissory note for $1,300 with interest at 10.89%, issued March 20, 2011 is discounted (sold) on May 14, 2011 at an interest rate of 10.15%. (The dates must be answered in the following format: January 1, 2012) (Do not include the $ sign when entering money values.) Legal due date= Number of days Future value = Days left after discount = The sale value (proceeds) = Amount of discount =