A) You are considering the purchase of a note with maturity value of $2400 that is discounted at 6% for 6 months. At what simple annual interest rate could you invest the proceeds so that the future value would be $2400 in 6 months?

You would need to invest at a rate of ___%. B) A business borrows $3300 at 7% simple annual interest for 6 months. Two months prior to maturity, the bank discounts this note at 5% to an investor. What did the investor pay? What is the simple annual interest rate earned by the investor in the final two months?

The investor paid $, and earned a rate of ___%.