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Find the proceeds of the following promissory note. A seven-year, $3100.00 note bearing interest at 6.9% compounded monthly, issued December 1, 2003, discounted on December
Find the proceeds of the following promissory note. A seven-year, $3100.00 note bearing interest at 6.9% compounded monthly, issued December 1, 2003, discounted on December 1, 2005 to yield 2.5% compounded semi-annually. The proceeds of the note are $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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