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Problem # 6: (3 Marks) A note of $18000 dated April 15,1995 compounded quarterly at 12% for 8 years was discounted on April 10,1998. What

Problem # 6: (3 Marks)

A note of $18000 dated April 15,1995 compounded quarterly at 12% for 8 years was discounted on April 10,1998. What was the proceeds and the compound discount if the note was discounted at 12% compounded semi-annually?

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