On August 9, 1992, Miss Lufkin borrows $4000 from Mrs. Feld. She gives Mrs. Feld...
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Accounting
On August 9, 1992, Miss Lufkin borrows $4000 from Mrs. Feld. She gives Mrs. Feld a note promising the repay the money in 5 years with interest at 11%. On February 9, 1994, Mrs. Feld sells the note to a buyer who charges a rate of 13% compounded semiannually for discount purposes. How much does Mrs. Feld get for the note?
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