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deodeo deodeo
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10 months ago
A $6000, three-year promissory note bearing interest at 11% compounded semiannually was purchased 15 months into its term for $6854.12. What monthly compounded discount rate was used in pricing the note? Round to the nearest 0.01%.
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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Tram N.Tram N.
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Anonymous
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6 months ago
Help! The answer is missing an explanation...
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Educator
6 months ago
I added the complete solution on behalf of Tram N.
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