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Albert purchased Bonzo's car for $500 cash and a non-interest-bearing promissory note for $2,000 payable in two years. How much money can Bonzo expect to
Albert purchased Bonzo's car for $500 cash and a non-interest-bearing promissory note for $2,000 payable in two years. How much money can Bonzo expect to receive for the note if he immediately sells it to Corleone Finance Company at a discount rate of 30% compounded monthly? Round to the nearest dollar. A. $383 B. $2,616 C. $1,617 D. $1,400 E. $1,106
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