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A discounted note that pays $9500 in 6 months sells for X. Find X in each of the following interest rate scenarios: a) simple interest
A discounted note that pays $9500 in 6 months sells for X. Find X in each of the following interest rate scenarios: a) simple interest at an annual rate of 5.5% b) simple discount at an annual rate of 5.5% c) compound interest at a nominal rate of 5.5% compounded semi-annually d) compound interest at a nominal rate of 5.5% compounded monthly e) Are any of your answers to the above exactly the same? If so, can you explain why
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