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

Question

1 Approved Answer

On January 1, 2020, Excellence Plastic Corporation purchases a 10-year $50,000 bond for $49,000. The bonds pay 6% interest semi-annually on January 1 and July

On January 1, 2020, Excellence Plastic Corporation purchases a 10-year $50,000 bond for $49,000. The bonds pay 6% interest semi-annually on January 1 and July 1. The effective rate of interest is 6.272%. On July 1, 2020, how much interest will Excellence collect?

A- $1,470

B- $1,537

C- $1,500

D- $1,568

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored 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

Recommended Textbook for

A Guide To Risk Based Internal Audit System In Banks

A Guide To Risk Based Internal Audit System In Banks

Authors: CA Shiva Chaudhari

1st Edition

1947498649, 978-1947498648

More Books

Students also viewed these Accounting questions

Question

★★★★★
What do you think the effect would be if Congress changes the law so that retirement plan contributions are included in taxable income at the time they are made rather than taxing the payment when...

Answered: 1 week ago

Question

★★★★★
How does prior knowledge inuence processing of new information?

Answered: 1 week ago

Question

★★★★★
On January 1, 2012, Perez Company purchased 90% of the capital stock of Sanchez Company for $85,000. Sanchez Company had capital stock of $70,000 and retained earnings of $12,000 at that time. On...

Answered: 1 week ago

Question

★★★★★
On January 1, 2020, Excellence Plastic Corporation purchases a 10-year $50,000 bond for $49,000. The bonds pay 6% interest semi-annually on January 1 and July 1. The effective rate of interest is...

Answered: 1 week ago

Question

★★★★★
At January 1, 2021, Cafe Med leased restaurant equipment from Crescent Corporation under a nine-year lease agreement. The lease agreement specifies annual payments of $21,000 beginning January 1,...

Answered: 1 week ago

Question

★★★★★
Ralph Young was a commercial tour boat operator on the northern coast of Kauai, Hawaii. He was licensed by the state of Hawaii to operate his boat in Hanalei Bay. The U . S . Department of...

Answered: 1 week ago

Question

★★★★★
A stainless-steel bar is heat up to 1400K and cooldown to improve the hardness of the metal is removed from an furnace and cool down by immersing it in 15 kg of water at 27C. appropriate constant...

Answered: 1 week ago

Question

★★★★★
In the field of computer networking there is an imprecise relationship between the level of use of a network communication bandwidth and the latency experienced in peer-to-peer communication. Let X~...

Answered: 1 week ago

Question

★★★★★
Time Left: 09:2 Uncategorized i Question Type: MCQ Question No. 14. Mark/s: 4.00 | Negative Mark/s: 0.00 A manufacturing firm would like to develop an aggregate plan for the next quarter. Data...

Answered: 1 week ago

Question

★★★★★
What is the correct way to pass a vector through this method declaration in C++? Where would it go exactly and what is the syntax for it? Thank you! void MergeSort (SortBy sortBy);

Answered: 1 week ago

Question

★★★★★
2. What efforts are countries making to reverse the brain drain?

Answered: 1 week ago

Question

★★★★★
3. Explain the process of job evaluation and comment on how a points rating job evaluation scheme can contribute to perceptions of fairness from the point of view of employees.

Answered: 1 week ago

Question

★★★★★
3. In your view what are the ethical considerations when employing talented people from a third-world country?

Answered: 1 week ago

Previous Question Next Question