Offer your classmate's business a simple discount note for the total price of $13,405.70 at an ordinary bank discount rate of 4% for 90 days. Calculate the bank discount, proceeds, and effective interest rate. Show all steps in your calculations. Using several sentences, discuss with your classmate the differences between the simple interest loan and the bank discount note you are offering. Include these items in your post: Discount note offer Total price of asset(s) purchased Bank discount, proceeds, and effective interest rate Steps in calculation Discussion of differences