Question: A $2800 promissory note issued without interest for five years on September 30, 2015, is discounted on July 31, 2018, at 8% compounded quarterly. Find

A $2800 promissory note issued without interest for five years on September 30, 2015, is discounted on July 31, 2018, at 8% compounded quarterly. Find the compound discount.

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