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Problem #12 BANK DISCOUNT Finding the Bank Discount and Proceeds Face Discount Term of Bank Proceeds Value Rate Discount Discount 45,000 13% 6 months 18,500 12 1/2% 1 year U AWN - 78,000 8 1/4% 130 days 23,500 11.3% 50 days 350,000 9.65% 1 1 months2. Find ordinary interest using actual time: Principal Rate From To a. P6,500 18% January 6 February 5 b. P7,500 15% July 8 August 13 3. Find the maturity value at ordinary interest: _ Principal ' Rate Time a. P8,000 ' 15% 30 days b. P2,000 22 % % 20 days