Question: A seven-year, $10,000 promissory note, dated May 1, 2007, with interest at 12% compounded quarterly is discounted four years after the date of issue at

  1. A seven-year, $10,000 promissory note, dated May 1, 2007, with interest at 12% compounded quarterly is discounted four years after the date of issue at 16% compounded semi-annually. What are the proceeds of the note?

  1. Find the nominal annual rate of interest compounded quarterly that is equal to an effective rate of 19.25%

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