Compute the proceeds from the following notes payable. Interest payments are made annually. Proceeds Stated Interest Rate
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Compute the proceeds from the following notes payable. Interest payments are made annually. Proceeds Stated Interest Rate Effective Interest Rate Face Value Life 9 • 0% 8% $ 1,000 4 years 9 • 0 6 5,000 6 years 9 • 4 12 8,000 6 years 9 • 8 8 3,000 7 years 9 • 10 6 10,000 10 years
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