Question: A ten-year promissory note for $1750 dated May 1, 2013, bearing interest at 4% compounded semi-annually is discounted on August 1, 2019, to yield 6%

A ten-year promissory note for $1750 dated May 1, 2013, bearing interest at 4% compounded semi-annually is discounted on August 1, 2019, to yield 6% compounded quarterly. Determine the proceeds of the note.

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