Question: A note for $2000 dated October 6, 2012 is due with compound interest at j 12 = 8%, two years after the date. On January

A note for $2000 dated October 6, 2012 is due with compound interest atj₁₂= 8%, two years after the date. On January 16, 2014, the holder of the note has it discounted by a lender who chargesj₄= 9%. Determine the proceeds and the compound discount.

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