Roni Lockard signed a $26,500 simple discount promissory note at a certain bank. The discount rate was 14%, and the note was made on February 18 (not in a leap-year) for 113 days   What proceeds (in $) will Roni receive on the note? What is the maturity date of the note?

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ChapterD: Notes Payable And Notes Receivable
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Roni Lockard signed a $26,500 simple discount promissory note at a certain bank. The discount rate was 14%, and the note was made on February 18 (not in a leap-year) for 113 days

 

What proceeds (in $) will Roni receive on the note?

What is the maturity date of the note?

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