Jim lends $8000 to Sally on September 23,2006 . Sally signs a promissory note, with...
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Jim lends $8000 to Sally on September 23,2006 . Sally signs a promissory note, with the note due in 10 months. The maturity value of the note is $8536.55. Jim sells the note to a bank on February 23,2007 . If the bank wishes to earn r=8%, what price does Jim get for the note? A. $8261.18 B. $8264.83 C. $8259.57 D. $8268.27
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