Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary.

Roni Lockard signed a $28,500 simple discount promissory note at a certain bank. The discount rate was 16%, and the note was made on February 11 (not in a leap-year) for 115 days.

(a)What proceeds (in $) will Roni receive on the note?$

(b)What is the maturity date of the note?

Month and date answer