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

Question

1 Approved Answer

QUESTION 10 A company has decided to issue a 120-day bank-accepted bill to raise additional funding of $500,000 to buy equipment. If the bank has

QUESTION 10

  1. A company has decided to issue a 120-day bank-accepted bill to raise additional funding of $500,000 to buy equipment. If the bank has agreed to discount the bill at a yield of 7.65% per annum, what will be the face value of the bill (rounded to the nearest thousand)?

A.$512,575,32

B.$500,000

C.$513,000

D.None of the given answers

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_2

Step: 3

blur-text-image_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

Bond Markets Analysis and Strategies

Bond Markets Analysis and Strategies

Authors: Frank J.Fabozzi

9th edition

133796779, 978-0133796773

More Books

Students also viewed these Finance questions

Question

Question 14 8 pts Little Roper Farm Shops Ltd sells a mixture of standard rated, zero rated and exempt goods. For the latest VAT quarter ended 31 March 2021, you are provided with the following...

Answered: 1 week ago

Question

2- Time Plc. is a small business that produces watches. The company has total fixed costs of $8,360,000 per month and variable cost per unit is $108. The company has estimated monthly sales demand...

Answered: 1 week ago

Question

Whatis the dollar amount you need to invest every year starting at age26 and ending at age 65 (i.e., for 40 years) to reach the targetlump sum at age 65? Calculate the lump sum you need to have...

Answered: 1 week ago

Question

★★★★★
Air flows through the fine mesh gauze shown in the figure below with an average velocity of 1.50 m/s in the pipe. Determine the loss coefficient for the gauze. KL= i 8.1mm V = 1.5 m/s Water Gauze...

Answered: 1 week ago

Question

★★★★★
For the years from 2006 and projected to 2021, the national health care expenditures H, in billions of dollars, can be modeled by H = 2009e0.05194t where t is the number of years past 2005. When are...

Answered: 1 week ago

Question

★★★★★
Interview two or three local entrepreneurs. If you need help finding entre preneurs, contact your local chamber of commerce or other business organizations. Conduct the interviews, and then write a...

Answered: 1 week ago

Question

★★★★★
Draw a graph of the density functions for the distributions given in Exercise 21 of Section 6.1. Hence find, in each case, the point a around which the density is symmetric. Moreover, verify...

Answered: 1 week ago

Question

★★★★★
Shahid Corporation has three divisions, each operating as a responsibility center. To provide an incentive for divisional executive officers, the company gives divisional management a bonus equal to...

Answered: 1 week ago

Question

★★★★★
Imagine that you will design a simple scheduler for multi-processing system. For simplicity, this computing environments consisting of four single-core processers, each of these processors has a...

Answered: 1 week ago

Question

★★★★★
A. Voltage Measurements at 90 Hz Turn on your function generator. It defaults to a sine wave with a frequency of 1000 Hz. Set the Frequency to 90.000 Hz by using the decade buttons (below 100.000) to...

Answered: 1 week ago

Question

★★★★★
no , the different colored image changes the trade dress enough

Answered: 1 week ago

Question

★★★★★
Mr Satya, age 35,married to Rupanvita, age 33. He is a government employee, and his wife is a marketing manager with private company. He stays in Kolkata, and has a 10-months old son, Ajay. Over the...

Answered: 1 week ago

Question

★★★★★
its an initial dream to be "the destination of choice for Australian job seekers", SEEK was founded in Melbourne, Australia in 1997 by brothers Paul and Andrew Bassat, together with co-founder...

Answered: 1 week ago

Question

★★★★★
earch Scenario and activity: You are initially working with a selection of these small businesses that have been trading for three years and which now need annual trading statements to be compiled...

Answered: 1 week ago

Question

★★★★★
Your facility belongs to one of three health care delivery systems in the city. Competition is fierce. You have been asked to serve on a committee to study and recommend the retention or deletion of...

Answered: 1 week ago

Question

★★★★★
Read all the articles on journaling; what approach in the articles did you find helpful and why? Mention that you have reviewed the journaling materials and what you learned; let us know if you have...

Answered: 1 week ago

Question

★★★★★
A U.S. firm is paying 4.55m EUR in December. December EUR Futures are available on the Chicago Mercantile Exchange (CME) and currently trade at 1.07075 EUR/USD. The contract has an initial margin of...

Answered: 1 week ago

Question

★★★★★
Which property determines whether a control is available to the user during run time? a. Available b. Enabled c. Unavailable d. Disabled

Answered: 1 week ago

Question

★★★★★
Using the above declarations, use a member of the Array class to locate the index in the bArray array where 14 is stored.

Answered: 1 week ago

Question

★★★★★
What output is produced by the following code? int i; int [ ] anArray = new int [5]; for (i = 0; i Answered: 1 week ago

Answered: 1 week ago

Question

★★★★★
Using the above declarations, use a member of the Array class to order the values in the bArray array in ascending order.

Answered: 1 week ago

Previous Question Next Question