Question
A non-interest bearing promissory note has a $2400 maturity value and it matures in 90 days. You decide to sell the note 12 days
A non-interest bearing promissory note has a $2400 maturity value and it matures in 90 days. You decide to sell the note 12 days before the legal due date. How much money do you sell it for if money is worth 4.84%?
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Fundamentals Of Corporate Finance
Authors: Stephen Ross, Randolph Westerfield, Bradford Jordan
13th Edition
1265553602, 978-1265553609
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