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Derek lee inc loans money to john kruk corporation in the

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Derek Lee Inc. Loans money to John Kruk Corporation in the amount of $600,000. Lee accepts 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years). Lee needs money and therefore sells the note to Chicago National Bank, While demands interest on the note of 10% compounded semiannually. What is the amount lee will receive on the sale of the note?

Reference no: EM13606060

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