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Drill Problem 11-2 (Algo) [LU 11-1 (2)] Complete the following table for the simple discount notes. Use the ordinary interest method. (Round your answers to
Drill Problem 11-2 (Algo) [LU 11-1 (2)] Complete the following table for the simple discount notes. Use the ordinary interest method. (Round your answers to the nearest cent.) Discount rate Time Bank discount Proceeds Amount due at maturity $ 4,500 6.25% 200 days Drill Problem 11-6 (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.) (Do not round intermediate calculations. Round your final answers to the nearest cent.) Face value (principal) $ 29,000 Length of note Rate of interest 8% Maturity value Bank discount Proceeds Date of note February 5 Discount period Date note discounted March 7 50 days
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