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Your firm recently sold an asset and financed the sale of the asset. The firm took back a $50,000 loan on the equipment sale with
Your firm recently sold an asset and financed the sale of the asset. The firm took back a $50,000 loan on the equipment sale with monthly payments and 9% interest. The loan was a 5-year loan. Your firm now needs cash and desires to sell the loan. If investors require 12% rate of return to invest in this type of loan and 4 payments have been on the loan, how much will your firm receive from the sale of this financial asset?
Please go thru steps and use a financial calculator with the steps written please.
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