A $7,000 non-interest-bearing promissory note is discounted at 10% compounded quarterly, two years before maturity. What...

A $7,000 non-interest-bearing promissory note is discounted at 10% compounded quarterly, two years before maturity. What are the proceeds from the sale of the note?

Answers

$5,785.12

$5,745.23

$6,829.27

$5,933.33

$6,662.70

Expert Solution

jeff jeffy answered 3 years ago

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