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QUESTION 1 Kenny received a 120 days, 12% interest bearing note which is dated on 3 April 2019. Later on 29 May 2019, he went

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QUESTION 1 Kenny received a 120 days, 12% interest bearing note which is dated on 3 April 2019. Later on 29 May 2019, he went to bank to discount the note with 7% interest rate and received RM2500. Determine: a) the maturity value of the note (2 marks) b) the bank discount (2 marks) c) the face value of the note (3 marks) d) the new proceeds if the discount rate is changed to 8%

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