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A seven-year interest bearing note for $19950 at 8.1% compounded quarterly is issued on January...

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Accounting

A seven-year interest bearing note for $19950 at 8.1% compounded quarterly is issued on January 19,2006 . Four years and eleven months later , the note is discounted at 14.55% compounded monthly. Determine the proceeds in the note and how much interest the original owner of the note realized.

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