Question: 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

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 note's maturity value?

What is the discount period?

What is the bank discount? (Use 360 days a year. )

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