Which uses the rate (0.06, m-2) in discounting

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Question: Olongapo City, July 15, 2018 Three years and six months after date, I promise to pay Y to order at the First national Bank, P1,500 together with accumulated interest at the rate (0.07, m=2). Value received. Twelve months after date, what does Y receive on selling this note to a bank which uses the rate (0.06, m-2) in discounting?

Reference no: EM133542283

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