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A debt of $250,000 is due on September 15, 1995. What payment must be made on July 17, 1993, to repay the debt if the
A debt of $250,000 is due on September 15, 1995. What payment must be made on July 17, 1993, to repay the debt if the borrower is permitted to discount the debt at 12% compounded semiannually? (C) On August 9, 1992, Miss Lufkin borrows $4000 from Mrs. Feld. She gives Mrs. Feld a note promising to repay the money in 5 years with interest at 11%. On February 9, 1994, Mrs. Feld sells the note, to a buyer who charges a rate of 13% compounded semiannually for discount purposes. How much does Mrs. Feld get for the
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