A non-interest-bearing, eight-year note for $4500 issued August 1, 2019, is discounted April 1, 2023, at 6.5%

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A non-interest-bearing, eight-year note for $4500 issued August 1, 2019, is discounted April 1, 2023, at 6.5% compounded annually. Calculate the compound discount.

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

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

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Question Posted: Oct 27, 2020 07:07 AM

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A non-interest-bearing, eight-year note for $4500 issued August 1, 2019, is discounted April 1, 2023, at 6.5%

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Divide the notes face value buy its discounted price For example ...View the full answer

Contemporary Business Mathematics With Canadian Applications

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