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Business Math : Non-interest Bearing Note

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A non interest bearing note of $2000 is discounted at 12% compounded quarterly for 5 years and 8 months. What are the proceeds?

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Solution Summary

The proceeds from non-interest bearing note is calculated. An explanation of non-interest bearing notes is included.

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A non-interest-bearing note is a bond which pays no coupons, sold at a deep discount to its face value, and matures at its face value. A non-interest-bearing note has the important advantage of being ...

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