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The proceeds from the sale of a $4600 five-year promissory note bearing interest at 9% compounded quarterly were $6054.3. How many months before its matunty
The proceeds from the sale of a $4600 five-year promissory note bearing interest at 9% compounded quarterly were $6054.3. How many months before its matunty date was the note sold it was discounted to yield 10.5% compounded monthly? (Do not round the Intermediate calculations. Round your answer to the nearest month.) 16 Number of months before its maturity dato References
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