A $ 120,000 promissory note signed on April 1 maturing in 8 months and with 5% simple

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A $ 120,000 promissory note signed on April 1 maturing in 8 months and with 5% simple interest is sold to Ariel on July 14 on the basis of a return on investment of 6% ordinary compound. How much does Ariel pay for the document?

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Income Tax Fundamentals 2013

ISBN: 9781285586618

31st Edition

Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill

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Posted Date: May 12, 2024 11:41 PM

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A $ 120,000 promissory note signed on April 1 maturing in 8 months and with 5% simple

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To calculate the amount Ariel pays for the promissory note we need to calculate the interest a... View the full answer

Income Tax Fundamentals 2013

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