A 15-year promissory note for $16 500 bearing interest at 12% compounded semi- annually is discounted at

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A 15-year promissory note for $16 500 bearing interest at 12% compounded semi- annually is discounted at 9% compounded monthly, 3 years and 4 months after the date of issue. Compute 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 03:49 AM

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A 15-year promissory note for $16 500 bearing interest at 12% compounded semi- annually is discounted at

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Maturity value 16 50000106 30 16 500005743491 94 76...View the full answer

Contemporary Business Mathematics with Canadian Applications

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