A $6300 face-value investment earning interest at 10% compounded annually for a six-year term was sold for $7550. How many years before its maturity date was the note sold if it was discounted to yield 12% compounded monthly?

Multiple Choice

• 2.73 years

• 3.27 years

• 4.50 years

• 12.38 years

• 39.28 years