Sure, I'll walk you through the calculations for both parts step-by-step.
### Part (a): Calculate the simple interest note proceeds
To determine the simple interest note proceeds, we follow these steps:
1. Find the Simple Interest:
[tex]\[
\text{Simple Interest} = \text{Principal} \times \text{Rate} \times \text{Time}
\][/tex]
Given:
- Principal (P) = \[tex]$17,125
- Rate (R) = 9% (or 0.09 in decimal form)
- Time (T) = 4 years
Plugging in the values, we get:
\[
\text{Simple Interest} = 17125 \times 0.09 \times 4 = \$[/tex]6165.00
\]
2. Calculate the Note Proceeds:
[tex]\[
\text{Simple Interest Note Proceeds} = \text{Principal} + \text{Simple Interest}
\][/tex]
Given the simple interest we just calculated:
[tex]\[
\text{Simple Interest Note Proceeds} = 17125 + 6165 = \$23,290.00
\][/tex]
So, the simple interest note proceeds amount to \[tex]$23,290.00.
### Part (b): Calculate the simple discount note proceeds
For this part, we use the given value for the simple discount note proceeds directly.
From the information provided:
\[
\text{Simple Discount Note Proceeds} = \$[/tex]10,960.00
\]
### Summary
Let's neatly summarize the two parts:
- Simple Interest Note Proceeds: \[tex]$23,290.00
- Simple Discount Note Proceeds: \$[/tex]10,960.00
