A five-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  Choices
A) 4336.93 B) 4336.99 C) 4336.96 D) 4336.92 E) 4336.91
Explanation:   i=j/m   Maturity value = PV(1 + i)^n   Term = 5 years - 21 months= 3.25 years   Price paid = FV(1+ i )^-n   4336.93nswer: 4336.93) 4336.93
<result>A</result>
A five-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