A promissory note for $600 dated May 15, 2017, requires an interest payment of $150 at maturity.

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A promissory note for $600 dated May 15, 2017, requires an interest payment of $150 at maturity. If interest is 9% compounded monthly, determine the due date of the note.

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Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0134141084

11th edition

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

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Question Posted: Nov 29, 2017 06:46 AM

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A promissory note for $600 dated May 15, 2017, requires an interest payment of $150 at maturity.

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PV 60000 I 15000 FV 75000 IY 9 C Y 12 i 075 00075 75000...View the full answer

Contemporary Business Mathematics with Canadian Applications

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