Question
An investor purchased a promissory note on June 15 for $27,329.96 using a negotiated interest rate of 10.5%. The promissory note had been issued on
An investor purchased a promissory note on June 15 for $27,329.96 using a negotiated interest rate of 10.5%. The promissory note had been issued on April 2 for a term of eight months at an interest rate of 9.25%. Calculate the original face value of the promissory note.
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Advanced Management Accounting
Authors: Robert S. Kaplan, Anthony A. Atkinson, Kaplan And Atkinson
3rd Edition
0132622882, 978-0132622882
