A $5000 bond that pays 7% semi-annually is redeemable at par in 15 years. Calculate the purchase
Question:
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (10 reviews)
PMT 50000035 175 P...View the full answer
Answered By
Mugdha Sisodiya
My self Mugdha Sisodiya from Chhattisgarh India. I have completed my Bachelors degree in 2015 and My Master in Commerce degree in 2016. I am having expertise in Management, Cost and Finance Accounts. Further I have completed my Chartered Accountant and working as a Professional.
Since 2012 I am providing home tutions.
3.30+
2+ Reviews
10+ Question Solved
Related Book For
Contemporary Business Mathematics with Canadian Applications
ISBN: 978-0134141084
11th edition
Authors: S. A. Hummelbrunner, Kelly Halliday, Ali R. Hassanlou, K. Suzanne Coombs
Question Posted:
Students also viewed these Accounting questions
-
Suppose you purchase a $5,000 bond that pays 7 percent interest annually and matures in five years. If the inflation rate in recent years has been steady at 3 percent annually, what is the estimated...
-
A $10 000, 10% bond with quarterly coupons redeemable at par in 15 years is purchased to yield 11% compounded quarterly. Determine the purchase price of the bond.
-
A $2000 bond with annual coupons is redeemable at par in five years. If the first coupon is $400, and subsequent annual coupons are worth 75% of the previous years coupon, find the purchase price of...
-
True or False: 1. Economists are not completely in agreement on what constitutes money for all purposes. 2. People use nontransaction accounts primarily because they generally pay higher interest...
-
The homogeneous circular cone shown has a mass m. Determine the mass moment of inertia of the cone with respect to the line joining the origin O and point A.
-
What is the value of M2 in the above table? Use the following table on the components of money in a hypothetical economy Money Component Traveler's checks Amount $ 100 Currency $2,000...
-
Unbalance is a fundamental cause of vibration in machinery. What frequency of interest identifies the unbalanced condition of a rotor?
-
Same setup as Exercise 14.1, except that now EBV is considering two additional structures: Alternative I: A 2X liquidation preference on the RP; or Alternative II: A cumulative compound dividend of...
-
ITEM Cost per Unit Classification Fabric $ 0 . 8 0 Product Interfacing $ 0 . 8 0 Product Hardware $ 0 . 8 0 Product Sewing Machine Monthly Cost Period Thread Monthly Cost Period Pliers One - time...
-
Jason Chan operates a takeout pizza business called A Slice of Life. During the month of November, the following things occurred: he paid $7,692 for pizza ingredients, $1,200 for rent, $220 for the...
-
On his retirement, Rob received a lump sum of $300 000 from his employer. Taking advantage of existing tax legislation, he invested his money in an annuity that provides for payments of $20 000 at...
-
You miss the 13th to 15th payments of a loan. The loan payments are $323.80 each month and the interest rate is 5.45% compounded annually. How much are you behind in your payments on the day that you...
-
This chapter has introduced methods for solving systems of equations, including substitution and elimination, and matrix methods such as the Gauss-Jordan method and Cramers rule. Use each method at...
-
If a 1,550 CFM dust collector system with cloth filter was purchased for $1,413 and the exponent in the cost capacity equation has a value of 0.68, then a 2,817 CFM dust collector system could be...
-
For years the bakery Ceres has been the only one in the village of Rosslare. Business has been going very well. But these days may soon be over as the Duchateau family is considering entering the...
-
An asset was purchased for $262000. It had an estimated salvage value of $52000 and an estimated useful life of 10 years. After 5 years of use, the estimated salvage value is revised to $40000 but...
-
25. Your client Ama Boahemaa has GHS100,000 to invest in the Tek 5 Index and the GoG 10-year bond. The yield on the GoG 10-year bond is 16.5%. The Tek 5 Index consists of five technology equity...
-
Make use of the quantity equation to answer the following problem. If the Fed increases the money supply by 6%, economic growth is 2%, and inflation is 2%, what is happening to the velocity of money?...
-
For the year ending December 31, 2020, Corum Industries accumulates the following data for the Plastics Division which it operates as an investment center: contribution margin 700,000 budget, 710,000...
-
The process of collaborative goal setting by a manager and subordinate, the extent to which goals are accomplished is a major factor in evaluating and rewarding the subordinate's performance. It is...
-
A clothing store buys shorts for $24 less 40% for buying over 50 pairs, and less a further 16 23% for buying last seasons style. The shorts are marked up to cover overhead expenses of 25% of cost and...
-
Furniture City bought chairs for $75 less 33 13%, 20%, and 10%. The stores overhead is 75% of cost and net profit is 25% of cost. (a) What is the regular selling price of the chairs? (b) At what...
-
a. SportZ Ltd. has offered a series of discounts to their retail outlets. The basic whole- sale discount is 30% off the suggested retail price. If the retailer purchases more than $5000 from SportZ,...
-
A) Translate the following C into RV641 assembly. Be sure to follow the calling (Refer to slide22 of lec6_postZoom.pdf) and comment each line of your assembly. Remember that long long is 64 bits in...
-
Given a Binary Tree, find the maximum sum path from a leaf to root. Input: 1 A Input: 10 -27 4 23 Output: Explanation Following the path 3-1, results in a sum of 4, which is the maximum path sum from...
-
On December 1 , 2 0 1 5 , your company pays $ 2 4 , 0 0 0 for rent on your store that covers the next 6 months. When you paid the cash, you debited Prepaid Rent.. The adjusting journal entry on...
Study smarter with the SolutionInn App