Multiple Choice
A twenty-year note for $1000.00 bearing interest at 9% compounded monthly is discounted at 5% compounded quarterly four years and six months before maturity. Find the proceeds of the note.
A) $6009.15
B) $4805.10
C) $133.07
D) $4800.65
E) $4741.93
Correct Answer:
Verified
Correct Answer:
Verified
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