Question: Sam and John signed a note, which says Sam will pay John $5000 in 6 years at 8% compounded monthly. Then 1 year before the

Sam and John signed a note, which says Sam will pay John $5000 in 6 years at 8% compounded monthly. Then 1 year before the note is due, John sells the note to a bank which discounts the note based on a bank discount rate of 4%. How much did the bank pay John for the

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