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Please help! b. (4 pts.) Calculate the unknown variable for the following interest-bearing promissory note. Term of Note Interest Rate on Note Date of Sale
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b. (4 pts.) Calculate the unknown variable for the following interest-bearing promissory note. Term of Note Interest Rate on Note Date of Sale (before Discount Rate maturity) $18,200 4% years 9.45% compounded 1/2 years 15% compounded $? monthly quarterly Issue Amount Sale Proceeds c. (2 pts.) Give a real-life example of a noninterest-bearing promissory note. Why would a business offer such a deal? b. (4 pts.) Calculate the unknown variable for the following interest-bearing promissory note. Term of Note Interest Rate on Note Date of Sale (before Discount Rate maturity) $18,200 4% years 9.45% compounded 1/2 years 15% compounded $? monthly quarterly Issue Amount Sale Proceeds c. (2 pts.) Give a real-life example of a noninterest-bearing promissory note. Why would a business offer such a dealStep by Step Solution
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