Sarah signed a note promising to pay Ben $305 in 13 months with simple interest at 7%. Then, 1 month before the note comes due, Ben sells the note to V. Harmless who discounts the note based on 13.5% simple interest.

(a) State the maturity value of the note. $ Incorrect: Your answer is incorrect.

(b) State the amount V. Harmless paid Ben for the note. $ Incorrect: Your answer is incorrect.

(c) State, as a percent, the simple interest rate Ben actually earned on the note for the time that he held it. %