Question: A 9-year promissory note for $6,514 dated today bearing interest at 3% compounded quarterly is discounted four years after the date of issue at 6%

A 9-year promissory note for $6,514 dated today bearing interest at 3% compounded quarterly is discounted four years after the date of issue at 6% compounded semi-annually. What are the proceeds of the note?

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