Question 1193569
**1.1. Calculate the amount the client receives:**

* **Calculate the discount:**
    * Discount = Face Value * Discount Rate * Time 
                = $6000 * 0.16 * (9/12) 
                = $72

* **Amount received by the client:**
    * Amount Received = Face Value - Discount
                        = $6000 - $72
                        = $5928

**1.2. Calculate the equivalent simple interest rate**

* **Find the effective discount rate:**
    * Effective Discount Rate = (Discount / Face Value) * (12 / Time in months) 
                               = ($72 / $6000) * (12 / 9) 
                               = 0.016 * 4/3 
                               = 0.02133 

* **Calculate the equivalent simple interest rate:**
    * Equivalent Simple Interest Rate = (Discount / Present Value) * (12 / Time in months)
                                  = ($72 / $5928) * (12 / 9) 
                                  = 0.01618 

* **Express as a percentage:**
    * Equivalent Simple Interest Rate = 0.01618 * 100 = 1.618%

**Therefore:**

* **1.1. The client will receive $5928.**
* **1.2. The equivalent simple interest rate of the loan is approximately 1.62% per annum.**