Question: I really need help with this question, please. Please show step by step how to do it. Please and Thank you. Find the proceeds and
I really need help with this question, please. Please show step by step how to do it. Please and Thank you.
Find the proceeds and the compound discount for the long-term promissory note shown in the table below. Note that this is a non-interest-bearing promissory note.
| Face Value | Date of Issue | Term | Date of Discount | Discount Rate | Frequency of Conversion |
| $900.00 | 18-05-2010 | 10 years | 17-08-2017 | 7% | semi-annually |
The proceeds are $____
(Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
The compound discount is $ ___
(Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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