Accounting for Lawyers
The interest rate is 10%/2 = 5% per six-month period. The number of periods is 10 x 2 = 20 six-month periods. From Table I, using n=20 and r=5, the conversion factor is 2.65330. Thus, the FV of the note is $50,000 x 2.65330 = $132,665. When the note matures, Nell will receive $132,665. We now need to calculate the present value of this payment. ................
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