A discounted note that pays $24500 in 6 months sells for X. Find X in each of

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A discounted note that pays $24500 in 6 months sells for X. Find X in each of the following interest rate scenarios:

a) simple interest at an annual rate of 9%

b) simple discount at anannualrate of 9%

c) compound interest at a nominal rate of 9% compounded semi-annually

d) compound interest at a nominal rate of 9% compounded monthly

e) Are any of your answers to the above exactly the same? If so, can you explain why?

Posted Date: May 18, 2024 05:00 PM

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A discounted note that pays $24500 in 6 months sells for X. Find X in each of

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