Question: A seven-year note for $3900 issued on August 1, 2016, with interest at 6.3% compounded semi-annually is discounted on February 1, 2019, at 2%

A seven-year note for $3900 issued on August 1, 2016, with interest

A seven-year note for $3900 issued on August 1, 2016, with interest at 6.3% compounded semi-annually is discounted on February 1, 2019, at 2% compounded quarterly. What are the proceeds of the note? The proceeds of the note are $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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