Question: Compute the proceeds of a five-month, $7000 promissory note dated September 6, 2018, with interest at 5.5% if the note is paid on November 28,

Compute the proceeds of a five-month, $7000 promissory note dated September 6, 2018, with interest at 5.5% if the note is paid on November 28, 2018,

when money is worth 6.5%. Ignore any grace period.

The proceeds are $______

(Round the final answer to the nearest cent as needed. Round all intermediate values to six decimal places asneeded.)

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