Question: 1. Find the proceeds for a discount note with $5,000 face value signed May 15 at 8.5% annual interest. The note is due November 18.

1. Find the proceeds for a discount note with $5,000 face value signed May 15 at 8.5% annual interest. The note is due November 18. Use ordinary interest.

2. A 90-day note is dated June 23. Find the maturity date, using exact time.

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