What is the amount sage hill will receive on sale of note

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Reference no: EM131856362

Sage Hill loans money to Luck Corporation in the amount of $330,000. Sage Hill accepts an 11% note due in 6 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Sage Hill needs money and therefore sells the note to Denver National Bank, which demands interest on the note of 1396 compounded semiannually. What is the amount Sage Hill will receive on the sale of the note?

Amount received on sale of note: $

Reference no: EM131856362

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