Stéphanie visited a financial institution and signed a 10-year, non-interest-bearing promissory note for $6000. She intends to give this to her son William, to partly fund his education. Due to...



Stéphanie visited a financial institution and signed a 10-year, non-interest-bearing promissory note for $6000. She intends to give this to her son William, to partly fund his education. Due to unforeseen circumstances, the note is purchased
after only 25 months at 2.15% compounded quarterly.



In order to find the selling price of the note (i.e. the proceeds), which variable is to be calculated?




a.PV of the 10-year note

b.IY of the 10-year note

c.FV of the 10-year note

d.PMT of the 10-year note



Jun 07, 2022
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