Unformatted text preview: rate. Generally, it is assumed that in any arm's length transaction, the interest rate stated on a note signed in exchange for goods and services is a fair rate. If an interest rate is not stated, the exchange value is based on the value of the goods or services received. The difference between the exchange value and the face amount of the note signed is considered interest....
View Full Document
This note was uploaded on 12/25/2011 for the course FIN 3312 taught by Professor Staff during the Spring '08 term at Texas State.
- Spring '08