When discounted to yield 71.98% compounded monthly, a $2600 three-year promissory note bearing interest at 9.25% compounded

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When discounted to yield 71.98% compounded monthly, a $2600 three-year promissory note bearing interest at 9.25% compounded annually was priced at $3110.41. How many months after the issue date did the discounting take place?

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Fundamentals Of Business Mathematics In Canada

ISBN: 9781259370151

3rd Edition

Authors: F. Ernest Jerome, Jackie Shemko

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Question Posted: Oct 21, 2020 05:36 AM

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When discounted to yield 71.98% compounded monthly, a $2600 three-year promissory note bearing interest at 9.25% compounded

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Fundamentals Of Business Mathematics In Canada

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