REQUIRED: Provide the following input values: N = I/Y = PMT = FV = The note was issued at The present value of the note is $
REQUIRED: Provide the following input values: N = I/Y = PMT = FV = The note was issued at The present value of the note is $
Chapter18: Long-term Debt Financing
Section: Chapter Questions
Problem 3BIC
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Question
On 1 January 2024, Nissan Inc. provided services to Eagle Co. in exchange for Eagle’s $300,000, 2-year 8% note with interest compounded semi-annually on July 1 and January 1. The current market rate of similar notes is 12%. Pelican Inc. financial year ends December 31.
Set financial calculator to zero decimal place.
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