Find the proceeds of a $4559.96, 6-year note bearing interest at 6.5% compounded semi-annually, discounted 2.5 years after the date of issue at 4.8% compounded annually.

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 $4559.96, 6-year note bearing interest at 6.5%
compounded semi-annually, discounted 2.5 years after the date of issue at
4.8% compounded annually.
The proceeds are $
(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 $4559.96, 6-year note bearing interest at 6.5% compounded semi-annually, discounted 2.5 years after the date of issue at 4.8% compounded annually. The proceeds are $ (Round to the nearest cent as needed. Round all intermediate values to six decimal places as needed.)
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