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MATH 139 - BUSINESS MATHEMATICS example 7.4. Mr. Cousteau bought a 15% interest bearing, 8 month, $16,000.00 note expecting a yield to himself of 21%.

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MATH 139 - BUSINESS MATHEMATICS example 7.4. Mr. Cousteau bought a 15% interest bearing, 8 month, $16,000.00 note expecting a yield to himself of 21%. If he bought it for $16,984.37, how many days before the maturity of the note did he buy it? ) M.V.= 16,000[1+ (0.15) = $17,600 ---- 8 months M.V.=$17,600 16094 37

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