If you know that someone has PV (old debt) = 16537.50 SAR and it was agreed with
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Question:
If you know that someone has PV (old debt) = 16537.50 SAR and it was agreed with the creditor to sign two new promissory notes with the same amount fixed at 4000 SAR. The first worth after 4 months, the second after 10 months and pay the rest owed cash immediately
Calculate the amount of cash paid by the debtor if we set the discount rate at 7% per annum ?
Related Book For
Advanced Accounting
ISBN: 978-1305084858
12th edition
Authors: Paul M. Fischer, William J. Tayler, Rita H. Cheng
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