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in 5 minutes Two years and 10 months before its due date, an eight-year interest-bearing promissory note for 53,875 at 29% compounded semi-annually is discounted

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Two years and 10 months before its due date, an eight-year interest-bearing promissory note for 53,875 at 29% compounded semi-annually is discounted to have sale proceeds of 54195,58 What monthly compounded discount rate was uned? Select one O a 5.11% compounded monthly O b.5.34% compounded monthly . none O d. 4.89% compounded monthly Check

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