Question
A person owes $50,000, with maturity in 6 months and interest of 30% CT. If the document is sold 2 months before maturity and the
A person owes $50,000, with maturity in 6 months and interest of 30% CT. If the document is sold 2 months before maturity and the buyer wants to earn an interest of 3% cash per month on the amount of their investment, calculate the purchase price.
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Get StartedRecommended Textbook for
Cases in Financial Reporting
Authors: Michael J. Sandretto
1st edition
538476796, 978-0538476799
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