FREE Trial
Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Kingbird, Inc. has a $50400 note that carries an annual interest rate of 10%. If the amount of the total interest on the note is

Kingbird, Inc. has a $50400 note that carries an annual interest rate of 10%. If the amount of the total interest on the note is equal to $3780, then what is the duration of the note in months?

9 months

12 months

4 months

6 months

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

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

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

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

Get Started

Students also viewed these Accounting questions

Question

Brokerage/commission paid to the broker for futures contract will be paid on a. Trade date b. Settlement date c. T + 2 d. None of the above

Answered: 1 week ago

Question

★★★★★
A circular loop of wire with area A lies in the xy-plane. As viewed along the z-axis looking in the - z-direction toward the origin, a current I is circulating clockwise around the loop. The torque...

Answered: 1 week ago

Question

★★★★★
On December 31, 2018, the end of Larry's Used Cars' first year of operations, the accounts receivable was $53,000. The company estimates that $2,000 of the year-end receivables will not be collected....

Answered: 1 week ago

Question

★★★★★
A) You buy a bond for $976 that has a coupon rate of 7.4% and a 5-year maturity. A year later, the bond price is $1,136. (Assume a face value of $1,000 and annual coupon payments.) What is your rate...

Answered: 1 week ago

Question

★★★★★
1. BaCo opens its business in 20X2 and purchases merchandise on account for $88,000. In 20X2, BaCo pays $67,000 cash on the $88,000 due, sales are $145,000, and ending inventory is $24,000. BaCo's...

Answered: 1 week ago

Question

★★★★★
Miller Company's contribution format income statement for the most recent month is shown below: Total Sales (25,800 units) Variable expenses $ 232,200 139,320 Contribution margin 92,880 Per Unit $...

Answered: 1 week ago

Question

★★★★★
Tired of her current home's high electric bills, Sandra decides that her next home will have oil heat, but she is concerned about the liability hazards this might involve. To avoid a major pollution...

Answered: 1 week ago

Question

★★★★★
For simple orders (e.g., additional handsets or equipment), or when a customer has its own technical team to determine the necessary equipment, Company A's sales team verifies that the goods are...

Answered: 1 week ago

Question

★★★★★
The following information refers to parts 1-5 below, select the right answer from the drop-down menu and answer the compute questions. Consider a three-period (0, 1, and 2) binomial time-state model...

Answered: 1 week ago

Previous Question Next Question