Answered: A note dated June 1, 1995, calls for…

A note dated June 1, 1995, calls for the payment of $85,000 in 6 years. On March 15, 1998, the note is sold at a price that will yield the buyer 12%. How much is paid for the note?.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter12: Current Liabilities

Section: Chapter Questions

Problem 5Q: If Bergen Air Systems takes out a $100,000 loan, with eight equal principal payments due over the...

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A note dated June 1, 1995, calls for the payment of $85,000 in 6 years. On March 15, 1998, the note is sold at a price that will yield the buyer 12%. How much is paid for the note?.

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