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Bizhelp
Bizhelp, CPA
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Experience:  BA degree and Certified Public Accountant
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Dubois Inc. loans money to John Kruk Corporation in the amount

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Dubois Inc. loans money to John Kruk Corporation in the amount of $800,000. Dubois accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Dubois needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of 10% compounded semiannually. What is the amount Dubois will receive on the sale of the note?
Submitted: 4 years ago.
Category: Single Problem
Expert:  Bizhelp replied 4 years ago.
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