Question: A non-interest-bearing, eight-year note for $4500 issued August 1, 2015, is discounted April 1, 2018, at 6.5% compounded annually. Find the compound discount.

A non-interest-bearing, eight-year note for $4500 issued August 1, 2015, is discounted April 1, 2018, at 6.5% compounded annually. Find the compound discount.

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