An eight year note for $3700 issued on November 1, 2015, with interest at 5.8% compounded annually

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An eight year note for $3700 issued on November 1, 2015, with interest at 5.8% compounded annually is discounted on September 1, 2016, at 8.9% compounded semi-annually.

What are the proceeds of the note?

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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Posted Date: Apr 20, 2024 03:03 AM

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An eight year note for $3700 issued on November 1, 2015, with interest at 5.8% compounded annually

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To solve this problem we need to calculate the present value of the future cash flows interest payme... View the full answer

Contemporary Business Mathematics With Canadian Applications

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