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Nally received a 120-day promissory note for RM20,000 which matures on 2 August 2020 with a simple interest rate of 5% per annum. She later
Nally received a 120-day promissory note for RM20,000 which matures on 2 August 2020 with a simple interest rate of 5% per annum. She later discounted the note 60 days before the maturity date and obtained RM20,138.24. Determine the date of the note, maturity value, bank discount, and bank discount rate.
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