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Questlon 2 fof 12) 2. value 2.91 points You were offered the opportunity to purchase either a simple interest note or a simple discount note with the ollo ng terms $34 423 at 5% or as months a. Calculate the effective interest rate (Do not round intermediate calculations. Round your final answer to the nearest tenth percent.) Effective interest rate b. Based on the effective interest rate, which would you choose? simple discount note simple interest note Hints References eBook & Resources Type here to sear F12 PrtScr sert Deete F10F11 Fe F9 F7 F6 F5 F4 F2 F3