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Home Q & A Board Science-Related Homework Help Mathematics
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zer0latency zer0latency
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A year ago
When discounted to yield 10.5% compounded monthly, a $2600 three-year promissory note bearing interest at 12.25% compounded annually was priced at $3283.57. To the nearest month, how long after the issue date did the discounting take place?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
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nancy123nancy123
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A year ago
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Anonymous
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3 months ago
Help! The answer is missing an explanation...
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Educator
3 months ago Edited: 3 months ago, bio_man
Complete solution now provided Smiling Face with Open Mouth

Also, here's a video to help you understand the calculations in real-time...
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