A promissory note has outstanding payments of $650 at the end of each of the next five
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A promissory note has outstanding payments of $650 at the end of each of the next five years. What market price would be paid for this note by an investor who requires a 12% yield on his investments, compounded Quarterly? Answer is $2311.47 -- please show details.
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Contemporary Financial Management
ISBN: 9780324289114
10th Edition
Authors: James R Mcguigan, R Charles Moyer, William J Kretlow
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