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.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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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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