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majarm majarm
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6 years ago
A 9-month non-interest bearing promissory note is sold 2 months after it was issued. The face value of the note is $8500 and it is discounted at a rate of 5.2% compounded annually. What are the proceeds?
A) $8252.33
B) $8525.33
C) $8255.33
D) $8522.33
E) $8552.33
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Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
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