Question 1193314
**1.1. Calculate Maturity Value**

* **Find the discount period:** 
    * Maturity Date: October 1, 2021
    * Issue Date: April 1, 2021
    * Discount Period: 6 months 

* **Calculate discount amount:**
    * Discount = Principal * Discount Rate * Time 
    * Discount = 1500 * 0.16 * (6/12) 
    * Discount = 120

* **Calculate maturity value:**
    * Maturity Value = Principal - Discount
    * Maturity Value = 1500 - 120 
    * Maturity Value = 1380

**1.2. Calculate Present Value on the Date of Sale**

* **Find the time remaining to maturity:**
    * Maturity Date: October 1, 2021
    * Sale Date: July 1, 2021
    * Time Remaining: 3 months

* **Calculate the discount from the sale date to maturity:**
    * Discount from Sale Date = Maturity Value * Discount Rate * Time 
    * Discount from Sale Date = 1380 * 0.16 * (3/12) 
    * Discount from Sale Date = 55.20

* **Calculate present value on the date of sale:**
    * Present Value = Maturity Value - Discount from Sale Date
    * Present Value = 1380 - 55.20 
    * Present Value = 1324.80

**Therefore:**

* **1.1. Maturity Value:** 1380
* **1.2. Present Value on the Date of Sale:** 1324.80