Below are three notes payable: Note Face Value (Principal) Rate Term 1 $30,000 4% 6 years 2 30,000 6% 4 years 3 30,000 8% 3 years REQUIRED: (you may wish to use the tables at the end of chapter 9 for parts 2 and 3) Part I For each of the notes, calculate the simple interest due at the end of the term Part 2 Now assume that the interest on the notes is compounded annually Calculate the amount of interest due at the end of the term for each note Part 3 Finally, assume that the interest on the notes is compounded semiannually Calculate the amount of interest due at the end of the term for each note Part 4 What conclusion can you draw from a comparison of your results of each of the three scenarios