1) Maria Distributors received a P350,000 bank discount note for 6 months from of its customers.

After 2 months, the note was discounted at the West Bank at a discount rate of 14%.
a. What is the maturity date of the note?
b. What is the maturity value of the note?
c. What is the discount date of the note?
d. What proceeds will Maria receive after the discounting the note?



2)Face Int. Date of Term of Maturity Maturity Date of Disc Disc. Proceeds
Value Rate Note Note Date Value Disc. Period Rate
15,000 15% May 13 80 days July 9 17%



3) Avena Manufacturing received a P400,000 promissory note at 12% simple interest for 95 days
from one of its customers. After 70 days, Avena discounted the note at the Rural Bank at a discount
rate of 15%. The note was made on September 12.
a. What is the maturity date of the note?
b. What is the maturity value of the note?
c. What is the discount date of the note?
d. What proceeds will Avena receive after the discounting the note?



4) Face Int. Date of Term of Maturity Date of Disc Disc. Proceeds
Value Rate Note Note Date Disc. Period Rate
50,000 13% Apr. 5 80 days May 16 14%



5) Ariadne Lumber received a P350,000 promissory note at 10% simple interest for 8 months from of
its customers. After 4 months, the note was discounted at the Cantilan Bank at a discount rate of
14%.
a. What is the maturity date of the note?
b. What is the maturity value of the note?
c. What is the discount date of the note?
d. What proceeds will Ariadne receive after the discounting the note?



6)Face Int. Date of Term of Maturity Maturity Date of Disc Disc. Proceeds
Value Rate Note Note Date Value Disc. Period Rate
25,000 12% Mar 4 70 days April 15 13%



7) Azura Publishing received a P70,000 promissory note at 12% ordinary interest for 60 days from
one of its customers. After 20 days, Azura, discounted the note at the Bank of Commerce at a
discount rate of 14.5%. The note was made on March 21.
a. What is the maturity date of the note?
b. What is the maturity value of the note?
c. What is the discount date of the note?
d. What proceeds will Azura receive after the discounting the note?



8) Face Int. Date of Term of Maturity Date of Disc Disc. Proceeds
Value Rate Note Note Date Disc. Period Rate
30,000 16% Feb. 27 68 days Apr. 7 18%




9)Face Int. Date of Term of Maturity Maturity Date of Disc Disc. Proceeds
Value Rate Note Note Date Value Disc. Period Rate
40,000 10.4% Dec. 12 50 days Jan9 15%