Determine the proceeds of a 10year promissory note discounted after after 4 years at 6% compounded quarterly with a maturity value of $6000

The Proceeds of maturity after 10 years is $1613.4

Step-by-step explanation:

Given as :

The maturity value = $ 6000

The rate applied at 6 % compounded quarterly

The Time period = 4 years

Now,

Amount = Principal ×

Or, Amount = 6000  ×

Or, Amount = 6000 ×

Or,  Amount = 6000 × 1.2689

∴  Amount = $ 7613.4

So, The proceeds after 10 years = $ 7613.4 - $ 6000 = $ 1613.4

Hence The Proceeds of maturity after 10 years is $1613.4   Answer

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step-by-step explanation: