Find the proceeds and the compound discount for the long-term promissory note shown in the table below. Note that this is anon-interest-bearing promissory note.

Face Value	Date of Issue	Term	Date of Discount	Discount Rate	Frequency of Conversion
$2650.00	30-04-2008	7 years	31-07-2011	9%	monthly

Proceeds are:

Compound Discount is:

A car was purchased for $3550 down and payments of $443 at the end of each month for five years. Interest is 6% compounded quarterly. What was the purchase price of the car? How much interest will be paid?