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majarm majarm
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6 years ago
A 11-year $8000.00 promissory note, with interest at 8.4% compounded monthly, is discounted at 6.5% compounded semi-annually yielding proceeds of $14 631.15. How many months before the due date was the date of discount?
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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