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7. (Do this on your own) A Non-interest bearing eight year note for $5000 issued August 1 2008 is discounted April 1, 2011 at

7. (Do this on your own) A Non-interest bearing eight year note for $5000 issued August 1 2008 is discounted April 1, 2011 at 6.5% compounded semiannually. Find the compound discount.

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