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Laf co purchased from oak co a 20000 8 5-year note that

Leaf Co. purchased from Oak Co. a $20,000, 8%, 5-year note that required five equal annual year-end payments of $5,009. The note was discounted to yield a 9% rate to Leaf. At the date of purchase, Leaf recorded the note at its present value of $19,485. What should be the total interest revenue earned by Leaf over the life of this note?

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Business Management: Laf co purchased from oak co a 20000 8 5-year note that

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Business Management: Laf co purchased from oak co a 20000 8 5-year note that

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