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1. [-/5 Points] DETAILS TANAPMATH7 4.1.060. MY NOTES ASK YOUR TEACH An individual purchased a 6-year, $10,000 promissory note with an interest rate of
1. [-/5 Points] DETAILS TANAPMATH7 4.1.060. MY NOTES ASK YOUR TEACH An individual purchased a 6-year, $10,000 promissory note with an interest rate of 4.5%/year compounded semiannually. How much did the note cost? (Round your answer to the nearest cent.) $ 2. [-/5 Points] DETAILS TANAPMATH7 4.1.032.EP. Assume $11,000 grows to $15,000 in an investment that earns interest at the rate of 3%/year compounded monthly. Determine each of the following. A = $ P = $ m = r = How long (in yr) will it take for this to occur? (Round your answer to two decimal places.) yr MY NOTES ASK YOUR TEACH
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