An assignable loan contract executed

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Reference no: EM13878752

An assignable loan contract executed 3 months ago requires two payments of $3,900 plus interest at 9% from the date of the contract, to be paid 4 and 8 months after the contract date. The payee is offering to sell the contract to a finance company in order to raise urgently needed cash. If the finance company requires a(n) 15% rate of return, what price will it be prepared to pay today for the contract?

Reference no: EM13878752

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