# A 100-day note with a face amount of $54,000 and interest rate of 9% is issued on June 1. Required: 1.Compute the following using a 360-day year: a. Maturity value of the note$___________  b. Maturity date ___________  c. Interest $___________ 2.The note is discounted on July 1. The bank discount rate is 12%. Compute the following: a. Number of days in the discount period ___________ b. Discount amount$___________  c. Proceeds $___________ Question A 100-day note with a face amount of$54,000 and interest rate of 9% is issued on June 1.

Required:

1.Compute the following using a 360-day year:  a. Maturity value of the note

$___________ b. Maturity date ___________ c. Interest$___________

2.The note is discounted on July 1. The bank discount rate is 12%. Compute the following: a. Number of days in the discount period

___________

b. Discount amount

$___________ c. Proceeds$___________

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