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Find the proceeds of a $4246.99, 6-year note bearing interest at 7% compounded semi-annually, discounted 1.5 years after the date of issue at 7.7% compounded annually The proceeds are S (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

Find the proceeds of a $4246.99, 6-year note bearing interest at 7% compounded semi-annually, discounted 1.5 years after the date of issue at 7.7% compounded annually The proceeds are S (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Find the proceeds of a $4246.99, 6-year note bearing interest at 7% compounded semi-annually, discounted 1.5 years after the date of issue at 7.7% compounded annually. The proceeds are S (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 $4246.99, 6-year note bearing interest at 7% compounded semi-annually, discounted 1.5 years after the date of issue at 7.7% compounded annually. The proceeds are S (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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