Question: Drill Problem 11-5 (Algo) [LU 11-2 (1, 2)] Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 11%.

Drill Problem 11-5 (Algo) [LU 11-2 (1, 2)] Solve for maturity value, discount period, bank discount, and proceeds. Assume a bank discount rate of 11%. 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. Face value (principal) $50,300, rate of interest 10%, length of note 100 days , what is the maturity value? date of note 07/13, date note discounted 08/03 what is discount period ? days ? Bank discount? and proceeds

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