Question
A 11-year promissory note for $6,752 dated today bearing interest at 4% compounded quarterly is discounted four years after the date of issue at
A 11-year promissory note for $6,752 dated today bearing interest at 4% compounded quarterly is discounted four years after the date of issue at 6% compounded semi-annually. What are the proceeds of the note? Please express your answer to the nearest dollar. Sample input: 2456 for $2456. You do NOT need to count days.
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Contemporary Business Mathematics with Canadian Applications
Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs
10th edition
133052311, 978-0133052312
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