Determine the proceeds of an investment with a maturity value of $10 000 if discounted at 9%

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Determine the proceeds of an investment with a maturity value of $10 000 if discounted at 9% compounded monthly 22.5 months before the date of maturity.
Maturity
Maturity is the date on which the life of a transaction or financial instrument ends, after which it must either be renewed, or it will cease to exist. The term is commonly used for deposits, foreign exchange spot, and forward transactions, interest...
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Related Book For  answer-question

Contemporary Business Mathematics with Canadian Applications

ISBN: 978-0133052312

10th edition

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

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