Sure thing! Let's calculate the missing information for the simple discount note you mentioned. We have a face value of $$6,905,$ a discount rate of $10\mathrm{.}79\%,$ and a term of $71$ days. We want to find the bank discount, proceeds, and effective rate.To calculate the bank discount, we can use the formula:Bank Discount $=$ Face Value $*$ Discount Rate $*($Term $/360)$Let$\text{'}$s plug in the numbers:Bank Discount $=$ $$6,905*0\mathrm{.}1079*(71/360)$Now$,$ to find the proceeds, we subtract the bank discount from the face value:Proceeds $=$ Face Value $-$ Bank DiscountProceeds $=$ $$6,905-$ Bank DiscountLastly, to calculate the effective rate, we use the formula:Effective Rate $=($Bank Discount $/$ Proceeds$)*(360/$ Term$)$Effective Rate $=($Bank Discount $/$ Proceeds$)*(360/71)$Remember to round the bank discount and proceeds to the nearest cent, and round the effective rate to the nearest hundredth of a percent.I hope this helps! Let me know if you have any other questions.