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What is the amount Teal Mountain will receive

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Reference no: EM132896522

Question - Teal Mountain loans money to Luck Corporation in the amount of $340,000. Teal Mountain accepts an 10% note due in 4 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Teal Mountain needs money and therefore sells the note to Denver National Bank, which demands interest on the note of 12% compounded semiannually. What is the amount Teal Mountain will receive on the sale of the note?

Reference no: EM132896522

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