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2. What is the quarterly compounded rate if $1300 accumulates to $1564 in 3 years? 3. A non-interest bearing promissory note has a face

2. What is the quarterly compounded rate if $1300 accumulates to $1564 in 3 years? 3. A non-interest bearing promissory note has a face value of $950. Find the proceeds of this note if it is discounted 3 years before its maturity date at 8% compounded quarterly.

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