The only question im not getting out of all my homework, all the other questions had close examples i could follow this ones a changeup couldnt figure it out
A note for $1200 dated Aug24,2005, is due with interest at j12=8.75% in 2 years. On June18,2006, the holder of the note has it discounted by a lender who charges 9.5% compounded quarterly. Calculate the proceeds and the compound discount.
All help is appreciated