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Home Q & A Board Science-Related Homework Help Mathematics
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yojoe102 yojoe102
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10 months ago
Nadir bought a new home theatre system, with 5.1 surround sound, 3D TV and leather theater seating for $10,000 from Best Future Electronics on March 20. He paid $2000 in cash and signed a conditional sales contract requiring a payment on July 1 of $3000 plus interest on the $3000 at a rate of 11%, and another payment on September 1 of $5000 plus interest at 11% from the date of the sale. The vendor immediately sold the contract to a finance company, which discounted the payments at its required rate of return of 16%. What proceeds did Best Future receive from the sale of the contract?
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Business Mathematics in Canada

Business Mathematics in Canada


Edition: 11th
Authors:
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ggianolaggianola
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Anonymous
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5 months ago
Help! The answer is missing an explanation...
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Educator
5 months ago
Try this:
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Educator
5 months ago
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