The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars...


The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest<br>method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.)<br>Maturity<br>Face<br>Interest<br>Date of<br>Term of<br>Maturity<br>Value<br>Value<br>Rate (%)<br>Note<br>Note (days)<br>Date<br>(in $)<br>12<br>$550<br>June 4<br>135<br>---Select--<br>$<br>Date of<br>Discount<br>Discount<br>Proceeds<br>Discount<br>Period (days)<br>Rate (%)<br>(in $)<br>Sept. 6<br>19.5<br>2$<br>

Extracted text: The following interest-bearing promissory note was discounted at a bank by the payee before maturity. Use the ordinary interest method, 360 days, to calculate the missing information. (Round dollars to the nearest cent.) Maturity Face Interest Date of Term of Maturity Value Value Rate (%) Note Note (days) Date (in $) 12 $550 June 4 135 ---Select-- $ Date of Discount Discount Proceeds Discount Period (days) Rate (%) (in $) Sept. 6 19.5 2$

Jun 01, 2022
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