Ivanhoe Inc. loans money to John Kruk Corporation in the amount of $831,200. Ivanhoe accepts an… 1 answer below »

Ivanhoe Inc. loans money to John Kruk Corporation in the amount of $831,200. Ivanhoe accepts an 8% note due in 7 years with interest payable semiannually. After 2 years (and receipt of interest for 2 years), Ivanhoe needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of 10% compounded semiannually. What is the amount Ivanhoe will receive on the sale of the note?

Looking for a similar assignment? Get help from our qualified experts!

Order Now

Don't use plagiarized sources. Get Your Custom Essay on
Ivanhoe Inc. loans money to John Kruk Corporation in the amount of $831,200. Ivanhoe accepts an… 1 answer below »
Just from $11/Page
Order Now