Compute the proceeds of a five-month, $7000 promissory note dated September 6, 2016, with interest at 5.5%

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Compute the proceeds of a five-month, $7000 promissory note dated September 6, 2016, with interest at 5.5% if the note is paid on November 28, 2016, when money is worth 6.5%.

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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 03:44 AM

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Compute the proceeds of a five-month, $7000 promissory note dated September 6, 2016, with interest at 5.5%

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Maturity value Due date February 6 2017 Interest period September ...View the full answer

Contemporary Business Mathematics with Canadian Applications

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