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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
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) S 22,700 Rate of interest 8% Maturity value Date note discounted Bank discount Length of note 60 days Proceeds Discount period Date of note April 15 May 17 edia/Connect_Production/bne/Slater_13e/table7_1.jpg Maps TABLE 7.1 Exact days-n-a-year calendar (excluding leap year' Day of month 31 Jan. 28 Feb. 31 Mar. 30 Apr. 31 May 30 June 31 July 31 Aug. 30 Sept. 31 Oct. 30 Nov. 31 Dec. 1 1 60 91 121 152 182 244 274 92 32 33 34 122 153 2 3 215 2 3 4 61 62 183 184 213 214 215 216 305 306 307 308 335 336 337 338 245 246 247 123 154 155 276 277 4 35 63 124 185 136 5 5 64 248 309 93 94 95 96 97 98 36 37 38 125 126 156 157 6 339 340 6 310 65 66 187 188 278 279 280 249 250 7 7 217 218 219 220 221 127 128 158 159 B B 39 67 68 189 190 251 252 311 312 313 341 342 343 9 40 99 160 9 10 281 282 283 284 10 41 100 129 130 131 11 69 70 71 42 43 101 102 161 162 163 222 223 224 253 254 255 191 192 193 194 195 12 344 345 346 11 12 13 14 285 132 133 314 315 316 317 318 44 72 347 103 164 13 14 225 226 45 13 104 134 165 256 257 258 348 15 46 74 135 196 319 15 16 17 349 105 106 285 287 288 289 290 16 47 166 167 168 136 227 228 229 197 259 320 321 17 107 137 198 260 75 76 77 78 48 49 50 18 108 169 199 322 138 139 230 231 291 292 109 200 19 20 261 262 263 110 19 20 21 22 350 351 352 353 354 355 356 170 171 172 293 79 80 323 324 325 140 141 142 21 111 264 294 201 202 203 204 81 173 295 51 52 53 54 55 56 112 113 143 23 22 23 24 25 296 B2 83 84 174 175 232 233 234 235 236 237 23B 239 357 358 144 205 24 25 297 265 266 267 268 269 270 176 206 115 116 26 326 327 328 329 330 331 332 333 57 145 146 147 85 BG 177 298 299 300 117 178 26 27 28 29 30 58 59 28 148 179 301 87 88 89 118 119 207 208 209 210 211 212 359 360 361 362 363 364 365 180 240 241 .242 249 149 150 271 272 273 302 303 30 120 181 31 31 90 151 304
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