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Mark signs a note promising to pay $925 in 4 years with simple interest at 11.5%. Then, 9 months before the note comes due, the

Mark signs a note promising to pay $925 in 4 years with simple interest at 11.5%. Then, 9 months before the note comes due, the holder of the note sells it to a local bank which discounts the note based on a bank discount rate of 16.5%. (a) What did the bank pay the holder of the note when it was sold 9 months before maturity? $ (b) What simple interest rate did the holder of the note earn for the time the note was held? (Enter your answer as a percent. If your answer is less than 0, type 9999) %

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