In each of the following situations, find (a) the maturity value, (b) the proceeds, and (c) the amount of discount.

1. A lender loaned a borrower $750 on May 8, and the borrower repaid the loan by giving the lender $800 on June 10.

2. A note will mature for its face value of $20,000 in 100 days. You buy the note for $1,000 less than its face value.

3. Stewarts New Arts Gallery received $18,000 from a lender on March 1, and paid off the loan on October 15 with a check for $20,000.

4. The payments between a borrower and lender are illustrated in the following time line:

$23,467.19 10/3/05 $24,500 17/19/06