Question: Problem #2. You signed a $45,000 simple discount promissory note at your local bank. The discount rate was 11% ordinary interest, and the note was

Problem #2. You signed a $45,000 simple discount promissory note at your local bank. The discount rate was 11% ordinary interest, and the note was made on March 1st for 100 Dys. (a) What proceeds did you receive on the note? (b) What was the maturity date of the note? (c) What was the effective interest rate of the note? Round your answer to the nearest hundredth of a percent

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