(11) A 5 year $10,000 promissory note pays 6% compounded monthly. It was sold 3 years later...

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(11) A 5 year $10,000 promissory note pays 6% compounded monthly. It was sold 3 years later to yield the purchaser 7% compounded quarterly. Find the proceeds of the note.

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Posted Date: May 15, 2024 01:33 PM

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(11) A 5 year $10,000 promissory note pays 6% compounded monthly. It was sold 3 years later...

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To solve this problem we need to find the present value of the remaining 2year cash flows of the pro... View the full answer

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