a$.$ For each of the following notes, calculate the simple interest due at the end of the term.

Round to the nearest dollar.

Note Principal Rate Term

$1$ $$8,0008\%8$ years

$2$ $$8,00012\%5$ years

$3$ $$8,0004\%2$ years

Note $1$ Answer

$0$

Note $2$ Answer

$0$

Note $3$ Answer

$0$

b$.$ Compute the amount of interest due at the end of the term for each of the above notes assuming interest is compounded annually.

Use Excel or a financial calculator for your computations. Round your answer to the nearest dollar.

Note $1$ Answer

$6,807$

Note $2$ Answer

$6,099$

Note $3$ Answer

$653$