Question: A five - year promissory note with a face value of $ 3 5 0 0 , bearing interest at 1 1 % compounded semi

A five-year promissory note with a face value of $3500, bearing interest at 11% compounded semi-annually, was sold 21 months after its issue date to yield the buyer 10% compounded quarterly. What amount was paid for the note?

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