A 5-year promissory note with a face value of $3500, bearing interest at 11% compounded...
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Accounting
A 5-year promissory note with a face value of $3500, bearing interest at 11% compounded semiannually, was sold 21 months after its issue date to yield the buyer 10% compounded quarterly. What amount was paid for the note?
a. $4336.93
b. $5978.51
c. $4251.71
d. $6021.50
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