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How much interest the original owner of the note realized

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Problem 1: A seven-year interest-bearing 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: EM132833599

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