Question

Nasha receives a promissory note dated 10 February 2018 with a simple interest rate of 6.5%...

Nasha receives a promissory note dated 10 February 2018 with a simple interest rate of 6.5% per annum. The note will mature on 10 June 2018. After she keeps the note for 70 days, she sells the note to a bank at a discount rate of 7% and receives proceeds of RM4,456.25. Find:
a) The term of the note.
b) The maturity value.
c) The face value.
d) The amount of interest Nasha receives.

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