Question: Is this right? Thanks. 8. A note dated October 1, 2010 calls for the payment of $800 in 7 years. On October 1, 2011, it

Is this right? Thanks. 8. A note dated October 1, 2010

Is this right? Thanks.

8. A note dated October 1, 2010 calls for the payment of $800 in 7 years. On October 1, 2011, it is sold at a price that will yield the investor i= 12%. How much is paid for the note? X (1+0.12) - 800 X= 800 (1.12) = $109.4163043 = $109.42

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