A 180-day promissory note for $2000 bears 7% simple interest. After 60 days it is sold to a bank that charges a simple discount rate of 7%.
a) Calculate the price paid by the bank for the note. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
b) What simple interest rate did the original owner of the note actually earn? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
c) If the note is actually paid on the due date, what simple discount rate will the bank have realized? (Do not round intermediate calculations. Round your answer to 2 decimal places.)