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 b) the bank discount c) the face value of the note d) the new proceeds if the discount rate is changed to 8% (2 marks) (2 marks) (3 marks) (3 marks) Maturity Value Formula: V = P x (1 + r)^n V = Maturity Value P = Principal Amount n = Compound Intervals r = Periodic Interest Rate