Stphanie visited a financial institution and signed a 12-year, non-interest-bearing promissory note for $7000. She intends...

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Stéphanie visited a financial institution and signed a 12-year, non-interest-bearing promissory note for $7000. She intends to give this to her son William, to partly fund his education. Due to unforeseen circumstances, the note is purchased after only 21 months at 3.15% compounded quarterly. In order to find the selling price of the note (i.e. the proceeds), which variable is to be calculated? a. FV of the 12-year note O b. PMT of the 12-year note O c. PV of the 12-year note O d. IY of the 12-year note Stéphanie visited a financial institution and signed a 12-year, non-interest-bearing promissory note for $7000. She intends to give this to her son William, to partly fund his education. Due to unforeseen circumstances, the note is purchased after only 21 months at 3.15% compounded quarterly. What is the selling price of the note (i.e. the proceeds)? O a. $6837.20 O b. $5074.86 O c. $6626.00 d. $5936.88 Stéphanie visited a financial institution and signed a 12-year, non-interest-bearing promissory note for $7000. She intends to give this to her son William, to partly fund his education. Due to unforeseen circumstances, the note is purchased after only 21 months at 3.15% compounded quarterly. In order to find the selling price of the note (i.e. the proceeds), which variable is to be calculated? a. FV of the 12-year note O b. PMT of the 12-year note O c. PV of the 12-year note O d. IY of the 12-year note Stéphanie visited a financial institution and signed a 12-year, non-interest-bearing promissory note for $7000. She intends to give this to her son William, to partly fund his education. Due to unforeseen circumstances, the note is purchased after only 21 months at 3.15% compounded quarterly. What is the selling price of the note (i.e. the proceeds)? O a. $6837.20 O b. $5074.86 O c. $6626.00 d. $5936.88

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