× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
a
5
k
5
c
5
B
5
l
5
C
4
s
4
a
4
t
4
i
4
r
4
r
4
New Topic  
majarm majarm
wrote...
Posts: 406
Rep: 0 0
6 years ago
A ten-year note for $2220.00 bearing interest at 6.6% compounded monthly is discounted at 8.92% compounded quarterly four years and four months before maturity. Find the proceeds of the note.
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
Read 82 times
1 Reply

Related Topics

Replies
wrote...
6 years ago
P V = 2220.00; i = 0.0055; n = 120
Maturity value = 2220.00(1.0055)120 = 2220.00(1.9312967) = 4287.48
  = (4 +  )4 = 17.3333333
PV = 4287.48(1.0223)-17.333333 = 4287.48(.6822995) = $2925.35
New Topic      
Explore
Post your homework questions and get free online help from our incredible volunteers
  1013 People Browsing
Related Images
  
 777
  
 905
  
 291
Your Opinion
What's your favorite funny biology word?
Votes: 328