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Determine the proceeds on the note

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Problem - A seven-year interest-bea ring note for $19,950 at 8.1 % compounded quarterly is issued on January 19, 2006. Four years and 11 months later, the note is discounted at 14.55% compounded monthly. Determine the proceeds on the note and how much interest the original owner of the note realized.

Reference no: EM132909397

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