A non-interest-bearing, eight-year note for $4500 issued August 1, 2015, is discounted April 1, 2018, at 6.5%

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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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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 03:48 AM

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A non-interest-bearing, eight-year note for $4500 issued August 1, 2015, is discounted April 1, 2018, at 6.5%

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Due date 20230801 Discount period 20150401 to 201...View the full answer

Contemporary Business Mathematics with Canadian Applications

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