Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $18,525 at 7% for 4 years. Use ordinary interest as needed. a. Calculate the simple interest note proceeds.

Intermediate Algebra
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ISBN:9780998625720
Author:Lynn Marecek
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Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $18,525 at 7% for 4 years. Use ordinary interest as needed.

a. Calculate the simple interest note proceeds.

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