Drill Problem $11-6($Algo$)[$LU $11-2(1,2)]$Drill Problem $11-6($Algo$)[$LU $11-2(1,2)]$

Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of $7\%.$ Use the ordinary interest method. $($Use Days in a year table.$)$

Note: Do not round intermediate calculations. Round your final answers to the nearest cent.

Answer is complete but not entirely correct.