Question: Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary. Roni Lockard signed a $23,500

 Use the ordinary interest method, 360 days, to solve the following

Use the ordinary interest method, 360 days, to solve the following word problem. Round to the nearest cent when necessary. Roni Lockard signed a $23,500 simple discount promissory note at a certain bank. The discount rate was 16%, and the note was made on February 13 (not in a leap-year) for 112 days. (a) What proceeds (in \$) will Roni receive on the note? $ (b) What is the maturity date of the

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