Determine the value that mr mario received

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Reference no: EM133980738

Problem

Mr. Mario Montoya sold a cash register for $990. This sale was made on credit to be paid within 15 months, so a promissory note was generated with an increase of 10% TEA. Get the instant assignment help. After the operation was carried out, Mr. Mario needed cash to pay off a debt and decided to sell the promissory note 80 days before its maturity with the 1.55% quarterly rate compounded monthly. Determine the value that Mr. Mario received.

Reference no: EM133980738

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