Williams Electronics sold some computers for $6,500 and established a promissory note requiring 7.50% compounded semi-annually, and due in 2% years. After 12 years, the note was sold to a finance company for $7,044.36. What is the discounted rate, assuming it is compounded quarterly? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Discount Rate = 0.00 %

Williams Electronics sold some computers for $6,500 and established a promissory note requiring 7.50% compounded semi-annually, and due in 2% years. After 12 years, the note was sold to a finance company for $7,044.36. What is the discounted rate, assuming it is compounded quarterly? Note: Please make sure your final answer(s) are in percentage form and are accurate to 2 decimal places. For example 34.56% Discount Rate = 0.00 %

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter9: Accounting For Receivables

Section: Chapter Questions

Problem 24Q: Chemical Enterprises issues a note in the amount of $156,000 to a customer on January 1, 2018. Terms...

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