(50 points) Compute the missing information to discount the following interest-b
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(50 points) Compute the missing information to discount the following interest-bearing and noninterest- bearing promissory notes.Use a 360-day year for all interest and discount calculations. (Points for each correct answer are shown in parentheses.
Sharon Wilder had been holding a 75-day note for $2,500. The note had a 6% interest rate and had been written on March 1. To pay income taxes, Sharon sold the note on April 13 to a loan company. The loan company discounted the note at 11%.
Interest amount (3 pts)
Maturity value (2 pts)
Maturity date (2 pts)
Days of discount (2 pts)
Discount amount (3 pts)
Proceeds (2 pts)
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