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Title: A $4300.00 promissory note issued without interest for nine years on September 30, 2001, is ... Post by: Hillier on Nov 26, 2017 A $4300.00 promissory note issued without interest for nine years on September 30, 2001, is discounted on July 31, 2006, at 8.32% compounded quarterly. Find the compound discount.
Title: Re: A $4300.00 promissory note issued without interest for nine years on September 30, 2001, is ... Post by: yacom on Nov 26, 2017 Due date: 2010-09-30
Discount period: 2006-07-31 to 2010-09-30: 4 years 2 months n = (4 + )4 = 16.6666667 i = 8.32%/4 = 0.0208 Proceeds = 4300.00(1.0208)-16.6666667 = 4300.00(.7095598) = 3051.11 Discount = 4300.00 - 3051.11 = $1248.89 Title: Re: A $4300.00 promissory note issued without interest for nine years on September 30, 2001, is ... Post by: Hillier on May 14, 2018 Correct, thank you
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