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Promissory Notes Determine the proceeds of the sale on a 9-year noninterest-bearing promissory note for $1,225.00, discounted 30 months before its due date at a

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Promissory Notes Determine the proceeds of the sale on a 9-year noninterest-bearing promissory note for $1,225.00, discounted 30 months before its due date at a discount rate of 8.9% compounded quarterly. The proceeds of the sale are

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