Four years and 7 months before its due date, a seven-year note for $2650, bearing interest at 9% compounded quarterly, is discounted at 8% compounded semi-annually. Find the compound discount.
Four years and 7 months before its due date, a seven-year note for $2650, bearing interest at 9% compounded quarterly, is discounted at 8% compounded semi-annually. Find the compound discount.
Chapter5: The Time Value Of Money
Section: Chapter Questions
Problem 26P
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Four years and 7 months before its due date, a seven-year note for $2650, bearing interest at 9% compounded quarterly, is discounted at 8% compounded semi-annually. Find the compound discount.
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