Question
Find the proceeds of the following promissory note. A five-year promissory note dated May 1, 2014,...
Find the proceeds of the following promissory note.
A
five-year
promissory note dated
May
1,
2014,
with a face value of
$2300.00
bearing interest at
5.9%
compounded
annually,
discounted
three
years
later when money was worth
4.2%
compounded
monthly.
Homework Answers
Answer #1
ANSWER: $2,817.03
EXPLANATION:
Abbreviations Used:
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