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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 9.5% compounded quarterly, a $4,500 four-year promissory note bearing interest at 11.5% compounded
semiannually was priced at $5,697.84.
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 year(s) and month(s) after issue.
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