Solve the problem.
A note is due in 8 years, with interest of 8% compounded semiannually. The face value of the note is $34,000. Find the maturity value of the note and find the minimum sale price of the note if money can be deposited at 6% compounded quarterly.
A. $116,482.05, $39,545.65
B. $63,681.32, $39,545.49
C. $46,674.71, $28,984.66
D. $63,681.36, $24,729.81
Answer: B
Mathematics
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