Question: 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

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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