A five-year, $1000 note bearing interest at 8% compounded annually was discounted at 12% compounded semi-annually yielding proceeds of $1333.35. How many months before the
A five-year, $1000 note bearing interest at 8% compounded annually was discounted at 12% compounded semi-annually yielding proceeds of $1333.35. How many months before the due date was the discount date?
The discount date was_________months before the due date.
(Round to the nearest month.)
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Authors: Francois Longin
1st Edition
1118650190, 978-1118650196
