Question: Three years, one months before its due date, a five-year note for $2939.85 bearing interest at 2.1% compounded semi-annually is discounted at 9% compounded quarterly.

Three years, one months before its due date, a five-year note

Three years, one months before its due date, a five-year note for $2939.85 bearing interest at 2.1% compounded semi-annually is discounted at 9% compounded quarterly. Find the compound discount. The compound discount is $0. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

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