Question
When discounted to yield 9.6% compounded quarterly, a $7,200 seven-year promissory note bearing interest at 13.2% compounded semiannually was priced at $12,343.38. How long after
When discounted to yield 9.6% compounded quarterly, a $7,200 seven-year promissory note bearing interest at 13.2% compounded semiannually was priced at $12,343.38. How long after the issue date did the discounting take place?
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
16th edition
125927716X, 978-1259687969, 1259687961, 978-1259277160
