Essay
A five-year, $2000.00 note bearing interest at 10% compounded annually was discounted at 12% compounded semi-annually yielding proceeds of $1900.00. How many months before the due date was the discount date?
Correct Answer:
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PV = 2000, i = 0.10, n = 5
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Correct Answer:
Verified
Maturity Valu...
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