A 7-month note dated May 1, 2014 is made at 3.75% for $3705. What is the present value of the note on September 4, 2014, if money is worth 6.87%?

Name: A 7-month note dated May 1, 2014 is made at 3.75% for $3705. What is the present value of the note on September 4, 2014, if money is worth 6.87%?
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The Answer of A 7-month note dated May 1, 2014 is made at 3.75% for $3705. What is the present value of the note on September 4, 2014, if money is worth 6.87%?

A 7-Month Note Dated May 1, 2014 Is Made at 3.75