An eight-year note for $3800 with interest at 11% compounded semiannually was sold after three years and

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An eight-year note for $3800 with interest at 11% compounded semiannually was sold after three years and three months to yield the buyer 14% compounded quarterly. What price did the buyer pay?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:26 AM

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An eight-year note for $3800 with interest at 11% compounded semiannually was sold after three years and

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Price Present value of the maturity value For the matu...View the full answer

Business Mathematics In Canada

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