Alan borrowed $30000 from Janet due in 5 years at 10% monthly. 2 years after the debt is contracted, Janet sells the note to Burt for an amount based on 8% monthly. How much does Janet receive (the proceeds)?

Alan borrowed $30000 from Janet due in 5 years at 10% monthly. 2 years after the debt is contracted, Janet sells the note to Burt for an amount based on 8% monthly. How much does Janet receive (the proceeds)?

SWFT Comprehensive Volume 2019

42nd Edition

ISBN:9780357233306

Author:Maloney

Publisher:Maloney

Chapter7: Deductions And Losses: Certain Business Expenses And Losses

Section: Chapter Questions

Problem 28P

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