Dubois inc loans money to john kruk corporation in the, Ask an Expert

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Dubois Inc. loans money to John Kruk Corporation in the amount of $800,000. Dubois accepts an 8% note due in 7 years with interest payable semiannually. After 2 years , Dubois needs money and therefore sells the note to Chicago National Bank, which demands interest on the note of 10% compounded semiannually.

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