Find the proceeds of a $3974.48, 9-year note bearing interest at 2.1% compounded quarterly, discounted 5 years after the date of issue at 6.4% compounded semi-annually. The proceeds are $ 3730.01. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
ChapterA3: Time Value Of Money
Section: Chapter Questions
Problem 11E
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Find the proceeds of a $3974.48, 9-year note bearing interest at 2.1% compounded quarterly, discounted 5 years after the date of issue at 6.4% compounded semi-annually.
The proceeds are $ 3730.01.
(Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
Transcribed Image Text:Find the proceeds of a $3974.48, 9-year note bearing interest at 2.1% compounded quarterly, discounted 5 years after the date of issue at 6.4% compounded semi-annually. The proceeds are $ 3730.01. (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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