Question: Please solve in deatial and label the steps! 6. An investor lends $5000 and receives a promis- sory note promising repayment of the loan in

Please solve in deatial and label the steps!

6. An investor lends $5000 and receives a promis- sory note promising repayment of the loan in 90 days with 8.5% simple interest. This note is immediately sold to a bank that charges 8% simple interest. How much does the bank pay for the note? What is the investor's profit? What is the bank's profit on this investment when the note matures

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