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What market price would be paid for this note by an investor

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Reference no: EM13992500

1. A promissory note has outstanding payments of $650 at the end of each of the next five years. What market price would be paid for this note by an investor who requires a 12% yield on his investments, compounded Quarterly? Answer is $2311.47 please show details. 

Reference no: EM13992500

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