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Drill Problem 1 1 - 5 ( Algo ) [ LU 1 1 - 2 ( 1 , 2 ) ] Solve for maturity value,

Drill Problem 11-5(Algo)[LU 11-2(1,2)]
Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 10%. Use the ordinary interest method. (Use Days in a year table.)
Note: Do not round intermediate calculations. Round your final answers to the nearest cent.
\table[[\table[[Face value],[(principal)]],\table[[Rate of],[interest]],\table[[Length of],[note]],\table[[Maturity],[value]],\table[[Date of],[note]],\table[[Date note],[discounted]],Discount period,Bank discount],[$,11%,85 days,,October 21,November 12,,]]
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