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Hillier Hillier
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7 years ago
A five-year promissory note with a face value of $3500, bearing interest at 11% compounded semiannually, was sold 21 months after its issue date to yield the buyer 10% compounded quarterly. What amount was paid for the note?
A) $3500
B) $5978.51
C) $4336.93
D) $6021.50
E) $4251.71
Textbook 
Contemporary Business Mathematics with Canadian Applications

Contemporary Business Mathematics with Canadian Applications


Edition: 11th
Authors:
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AxyAxy
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Hillier Author
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7 years ago
Thanks so much
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