Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 7%. Use the ordinary interest method. (Use Days in a year table.)

Note: Do not round intermediate calculations. Round your final answers to the nearest cent.

Face value (principal)	Rate of interest	length of note	Maturity value	date of note	Date note discounted	discount period	bank discount	proceeds
$47,500	11%	85 days	?	July 14	August 5	?? days	?	?