Using a financial calculator, solve for the unknowns in each of the following situations. a. On June

Question:

Using a financial calculator, solve for the unknowns in each of the following situations.

a. On June 1, 2021, Jennifer Lawrence purchases lakefront property from her neighbor, Josh Hutcherson, and agrees to pay the purchase price in seven payments of $16,000 each, the first payment to be payable June 1, 2022. What is the purchase price of the property?

b. On January 1, 2021, Gerrard Corporation purchased 200 of the $1,000 face value, 8% coupon, 10-year bonds of Sterling Inc. The bonds mature on January 1, 2031, and pay interest annually beginning January 1, 2022. Gerrard purchased the bonds to yield 10.65%. How much did Gerrard pay for the bonds?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...