Bridgeport Inc. loans money to John Kruk Corporation in the
amount of $880,000. Bridgeport accepts an 8% note due in 7 years
with interest payable semiannually. After 2 years (and receipt of
interest for 2 years), Bridgeport 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 Bridgeport
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. 458,581.)
Amount received on sale of note |
Amount received on sale of Note = Present value of interest at 5%, 10 years + present value of maturity amount
= 880000*8%*6/12*7.7217 + 880000*0.6139
= $812036
Bridgeport Inc. loans money to John Kruk Corporation in the amount of $880,000. Bridgeport accepts an...
Pina Inc. loans money to John Kruk Corporation in the amount of $912,000. Pina accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Pina 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 Pina will receive on the sale of the note? (Round factor values to 5 decimal places, e.g. 1.25124...
Teal Inc. loans money to John Kruk Corporation in the amount of $1,008,000. Teal accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Teal 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 Teal will receive on the sale of the note? (Round factor values to 5 decimal places, e.g. 1.25124...
Lindsey Inc. loans money to John Kruk Corporation in the amount of $840,800. Lindsey accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Lindsey 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 Lindsey will receive on the sale of the note? (Round factor values to 5 decimal places, e.g. 1.25124...
Whispering Inc. loans money to John Kruk Corporation in the amount of $848,000. Whispering accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Whispering 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 Whispering will receive on the sale of the note? (Round factor values to 5 decimal places, e.g. 1.25124...
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Dubois Inc. loans money to John Kruk Corporation in the amount of $847,600. 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? Please provide the work that you did to solve...
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Exercise 6-15 John Bogut just received a signing bonus of $1,019,200. His plan is to invest this payment in a fund that will earn 10 % , compounded annually. Click here to view factor tables If Bogut plans to establish the AB Foundation once the fund grows to $2,403,223, how many years until he can establish the foundation? years LINK TO TEXT LINK TO TEXT Instead of investing the entire $1,019,200, Bogut invests $315,300 today...