When discounted to yield 8.8% compounded quarterly, a $4,800 five-year promissory note bearing interest at 10.5% compounded semiannually was priced at $6,302.35. How long after the issue date did the discounting take place? (Do not round the intermediate calculations. Round your answer to the nearest month.) The discounting took place _ year(s) and _ month(s) after issue. Help me fast so that I will give Upvote.
When discounted to yield 8.8% compounded quarterly, a $4,800 five-year promissory note bearing interest at 10.5% compounded semiannually was priced at $6,302.35. How long after the issue date did the discounting take place? (Do not round the intermediate calculations. Round your answer to the nearest month.) The discounting took place _ year(s) and _ month(s) after issue. Help me fast so that I will give Upvote.
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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When discounted to yield 8.8% compounded quarterly, a $4,800 five-year promissory note bearing interest at 10.5% compounded semiannually was priced at $6,302.35. How long after the issue date did the discounting take place? (Do not round the intermediate calculations. Round your answer to the nearest month.)
The discounting took place _ year(s) and _ month(s) after issue.
Help me fast so that I will give Upvote.
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