Question: Rex Corporation accepted a $ 1 4 , 5 0 0 , 5 % , 1 2 0 - day note dated August 8 from

Rex Corporation accepted a $14,500,5%,120-day note dated August 8 from Regis Company in settlement of a past bill. On October 11, Rex discounted the note at Park Bank at 6%.(Use Days in a year table.)
What is the notes maturity value?
Note: Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.
What is the discount period?
What is the bank discount?
Note: Use 360 days a year. Do not round intermediate calculations. Round your final answer to the nearest cent.
What proceeds does Rex receive?

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