Question
A five-year, 2000.00 note bearing interest at 10% compounded annually was discounted at 12% compounded semi annually yielding proceeds of 1900.00. How many months before
A five-year, 2000.00 note bearing interest at 10% compounded annually was discounted at 12% compounded semi annually yielding proceeds of 1900.00.
How many months before the due date was the discount date?
Answer: Discount date is 54.35 months before the due date. NEED METHOD TO SOLVE
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Principles Of Finance
Authors: Scott Besley, Eugene F. Brigham
3rd Edition
0324232624, 9780324232622
