What will be the payment of xyz lendin

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Problem 1: If Shane will not pay the note in problem 4 when due. What should she pay to cancel the debt on Jan 1,Y+1, if it is agreed that money is worth 7% simple interest after the due date?

Problem 2: What amount of money will Mr. S accepts from the creditor on June 1, Y to settle a debt of 8,500 due on July 1, Y + 5, if the discount rate is 5%?

Problem 3: DRF Financing borrows a certain amount from ABC Bank on Sept 1, Y and signs a promissory note to pay the bank a total of 25,000 at the end of 7 years. The bank sells this note to XYZ Lending on Sept 1, Y+4. If XYZ Corporation insists on discounting the note at the discount rate 5%, what will be the payment of XYZ Lending?

Reference no: EM132819118

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