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When discounted to yield 9 . 5 % compounded quarterly, a $ 4 , 5 0 0 four - year promissory note bearing interest at
When discounted to yield compounded quarterly, a $ fouryear promissory note bearing interest at compounded
semiannually was priced at $
How long after the issue date did the discounting take place? Do not round the intermediate calculations. Round your answer to
the nearest month.
The discounting took place years and months after issue.
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