The payee on a three-month $2700 note earning interest at 8% wishes to sell the note to

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The payee on a three-month $2700 note earning interest at 8% wishes to sell the note to raise some cash. What price should she be prepared to accept for the note (dated May 19) on June 5 in order to yield the purchaser an 11% rate of return?

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Business Mathematics In Canada

ISBN: 978-0070009899

7th edition

Authors: Ernest Jerome

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Question Posted: Jan 20, 2016 07:17 AM

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The payee on a three-month $2700 note earning interest at 8% wishes to sell the note to

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Legal due date August 19 3 days August ...View the full answer

Business Mathematics In Canada

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