A four-year, non-interest-bearing promissory note for $3750 is discounted 32 months after the date of issue at

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A four-year, non-interest-bearing promissory note for $3750 is discounted 32 months after the date of issue at 5.5% compounded semi-annually. Find the proceeds of the note.

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

Authors: S. A. Hummelbrunner, Kelly Halliday, K. Suzanne Coombs

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Question Posted: Feb 26, 2016 03:48 AM

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A four-year, non-interest-bearing promissory note for $3750 is discounted 32 months after the date of issue at

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Discount period 48 32 16 months FV 37...View the full answer

Contemporary Business Mathematics with Canadian Applications

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