Question
A note for $250 dated August 1, 2010, is due with compound interest at i =9%, 4 years after date. On November 1, 2011, the
A note for $250 dated August 1, 2010, is due with compound interest at i =9%, 4 years after date. On November 1, 2011, the holder of the note has it discounted by a lender who charges i = 7.5% compounded annually. Determine the value of the note after 4 years.
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Municipal Finances A Handbook For Local Governments
Authors: Catherine D. Farvacque-Vitkovic, Mihaly Kopanyi
1st Edition
082139830X, 978-0821398302
