Answered step by step

Verified Expert Solution

Link Copied!

Question

1 Approved Answer

Posted on May 19, 2024

A 3 0 year bond with face amount 1 1 , 0 0 0 is bought to yield i ( 2 ) = 0 .

30

year bond with face amount

11, 000

is bought to yield i

(2) = 0.09 .

The final entry in the amortization schedule for accumulation of discount is

140 .

Find the purchase price of the bond.

Round your answer to two decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

Step: 3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Finance for Executives Managing for Value Creation

Authors: Gabriel Hawawini, Claude Viallet

4th edition

9781133169949, 538751347, 978-0538751346

More Books

Students also viewed these Finance questions

Question

The lifetime of a certain type of automobile tire (in thousands of miles) is normally distributed with mean u =40 and standard deviation o=4 . Use the TI-84 Plus calculator to answer the following....

Answered: 1 week ago

Question

The path of a baseball, hit 3 feet above ground, is modeled by the function f(x)=0.01x2+x+3, where f(x) represents the vertical height of the ball and x is the horizontal distance. How far across the...

Answered: 1 week ago

Question

Compute z-score. Round your answer to two decimal places. 12) An unknown distribution has a mean of 122 and standard deviation of 18. A sample size of 46 is randomly drawn from the population. Find...

Answered: 1 week ago

Question

★★★★★

In 2020, A corporation gave the following fringe benefits to its employees (Non-resident alien not engaged in trade/business): To managerial employees - P1,500,000 To rank and file employees -...

Answered: 1 week ago

Question

★★★★★

Rate data often follow a lognormal distribution. Average power usage (dB per hour) for a particular company is studied and is known to have a lognormal distribution with parameters = 4 and a = 2....

Answered: 1 week ago

Question

★★★★★

If a loan is repaid, the lender does not have to include the repayment in gross income. There is no exclusion in the tax law that permits taxpayers to omit such amounts from gross income. How can...

Answered: 1 week ago

Question

★★★★★

What is the persons job (e.g., professor, student, clinician)?

Answered: 1 week ago

Question

★★★★★

On Friday nights, patients arrive at the emergency room at Mercy Hospital at an average rate of seven per hour, which follows a Poisson distribution. Assume that an emergency-room physician can treat...

Answered: 1 week ago

Question

★★★★★

In a conventional encryption the private key is with a. Sender and Receiver b. Sender c. Receiver d. All devices in network Which of the following is emphasized in a passive attack? a. Prevention b....

Answered: 1 week ago

Question

★★★★★

Campbell's father holds just one stock, East Coast Bank (ECB), which he thinks is a very low-risk security. Campbell agrees that the stock is relatively safe, but he wants to demonstrate that his...

Answered: 1 week ago

Question

★★★★★

Question 1: On April 1, 2022, Sunland Corp. sold 12,000 of its $600 face value, 15-year, 10% bonds at 96. Interest payment dates are April 1 and October 1. The company follows ASPE and uses the...

Answered: 1 week ago

Question

★★★★★

Complete the table Question 1 of 3 [3] View Policies -/33 E! Current Attempt in Progress Ruth Lewis opened a law office on July 1, 2022. On July 31, the balance sheet showed Cash $5,000, Accounts...

Answered: 1 week ago

Question

★★★★★

Find the average value of f on [0, 32]. 1 0 8 fave = 10 11 x 16 24 AM

Answered: 1 week ago

Question

★★★★★

All of the following are true about reasonable accommodations EXCEPT: a. Information relating to a request is confidential and should only be shared on a need-to-know basis. b. You should always give...

Answered: 1 week ago

Question

★★★★★

On January 1, MM Company borrows $270,000 cash from a bank and in return signs an 4% installment note for five annual payments of $60,649 each. 1. Prepare the journal entry to record issuance of the...

Answered: 1 week ago

Question

★★★★★

4 a. Compute the equivalent units of production for both direct materials and conversion. b. Compute the cost per equivalent unit for both direct materials and conversion. c. Assign costs to the...

Answered: 1 week ago

Question

★★★★★

Cleaning Service Company's Trial Balance on December 31, 2020 is as follows: Account name Debit Credit Cash 700 Supplies Pre-paid insurance Pre-paid office rent Equipment Accumulated depreciation -...

Answered: 1 week ago

Question

★★★★★

Boles and Johnson (A-7) examined the beliefs held by adolescents regarding smoking and weight. Respondents characterized their weight into three categories: underweight, overweight, or appropriate....

Answered: 1 week ago

Question

★★★★★

The side effects of nonsteroidal antiinflammatory drugs (NSAIDs) include problems involving peptic ulceration, renal function, and liver disease. In 1996, the American College of Rheumatology issued...

Answered: 1 week ago

Question

★★★★★

Refer to the study by Carter et al. [A-9], who investigated the effect of age at onset of bipolar disorder on the course of the illness. One of the variables studied was subjects family history....

Answered: 1 week ago

Previous Question Next Question