Simple and Compound Interest
a. For each of the following notes, calculate the simple interest due at the end of the term.
Round to the nearest dollar.
Note  Principal  Rate  Term 

1  $18,000  4%  6 years 
2  $18,000  6%  4 years 
3  $18,000  8%  3 years 
Note 1  Answer

Note 2  Answer

Note 3  Answer

b. Compute the amount of interest due at the end of the term for each of the above notes assuming interest is compounded annually.
Use Excel or a financial calculator for your computations. Round your answer to the nearest dollar.
Note 1  Answer

Note 2  Answer

Note 3  Answer
