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Karim lends $8000 to Ebram on September 23, 2006. Ebram signs a promissory note, with...

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Finance

Karim lends $8000 to Ebram on September 23, 2006. Ebram signs a promissory note, with the note due in 10 months. The maturity value of the note is $8536.55. Karim sells the note to a bank on February 23, 2007. If the bank wishes to earn r = 8%, what price does Karim get for the note using exact time and 3 days of grace?

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