Dubois Inc. loans money to John Kruk Corporation in the amount of $801,600. Dubois accepts an8% note
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Question:
Dubois Inc. loans money to John Kruk Corporation in the amount of $801,600. Dubois accepts an8% note due in7years with interest payable semiannually. After2years (and receipt of interest for2years), Dubois needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of10% compounded semiannually. What is the amount Dubois will receive on the sale of the note?(Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g.
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