Essay
An seven-year promissory note for $31 000 dated May 2, 2002, bearing interest at 8% compounded quarterly, is discounted on September 2, 2005, at 8.5% compounded semi-annually. Determine the proceeds of the note.
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Due date: 2009-05-02
FV = 3100...View Answer
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Correct Answer:
Verified
FV = 3100...
View Answer
Unlock this answer now
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