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1) If you borrow $2000.00 on May 1, 2019, at 10% compounded semi-annually, and interest on the loan amounts to $109.45, on what date the
1) If you borrow $2000.00 on May 1, 2019, at 10% compounded semi-annually, and interest on the loan amounts to $109.45, on what date the loan is due? on what date is the loan due?
2) A five-year, $2000 note bearing interest at 8% compounded annually was discounted at 12% compounded semi-annually yielding proceeds of $2666.69.How many months before the due date was the discount date?
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