Below are three notes payable:

	Note Face Value (Principal)	Rate	Term
1	$30,000	4%	6 years
2	30,000	6%	4 years
3	30,000	8%	3 years

Part 1. For each of the notes, calculate the simple interest due at the end of the term.

Part 2. Now assume that the interest on the notes is compounded annually. Calculate the amount of interest due at the end of the term for each note. Round FV factors to three decimal places.

Part 3. Finally, assume that the interest on the notes is compounded semiannually. Calculate the amount of interest due at the end of the term for each note. Round FV factors to three decimal places.

Part 4. What conclusion can you draw from a comparison of your results of each of the three scenarios?