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Hale Corporation Issues an 8%, 9-Year Mortgage Note on January

Question 202

Multiple Choice

Hale Corporation issues an 8%, 9-year mortgage note on January 1 2014, to obtain financing for new equipment. The terms provide for semiannual installment payments of $32,900. The following values related to the time value of money were available to Hale to help them with their planning process and compounded interest decisions. Hale Corporation issues an 8%, 9-year mortgage note on January 1 2014, to obtain financing for new equipment. The terms provide for semiannual installment payments of $32,900. The following values related to the time value of money were available to Hale to help them with their planning process and compounded interest decisions. To the closest dollar, what were the cash proceeds received from the issuance of the note? A) $205,523 B) $236,880 C) $416,491 D) $410,841 To the closest dollar, what were the cash proceeds received from the issuance of the note?


A) $205,523
B) $236,880
C) $416,491
D) $410,841

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