Business
Business, 19.03.2021 01:00, irene4523

Pharoah Inc. loans money to John Kruk Corporation in the amount of $976,000. Pharoah accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Pharoah 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 Pharoah will receive on the sale of the note

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Pharoah Inc. loans money to John Kruk Corporation in the amount of $976,000. Pharoah accepts an 8% n...

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