Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 8%. Use the ordinary interest method. (Use Days in a year table.) (Do not round intermnediate calculations. Round your final answers to the nearest cent.) Face valuc Rate of interest Length of note Maturity value Date of note Date note discounted Discount period (principal) Bank discount Proceeds 22.700 8% 60 days April 15 May 17

Drill Problem 11-6 (Algo) (LU 11-2 (1, 2)] Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 8%. Use the ordinary interest method. (Use Days in a year table.) (Do not round Intermediate calculations. Round your final answers to the nearest cent.) Face value (principal) $ 22.700 Rate of interest 8% Length of note 60 days Maturity value Proceeds Bank discount Date of note April 15 Discount period Date note discounted May 17 1