Answer:
Since Interest Rate and Period is not given; we would assume the spring term begins in 4 months and
Explanation:
First we will require to use the compound interest formula.
It is not mentioned the compounding period in the question. However, many of the bank accounts today offer monthly compounding, and this will be used as the basis.
i=interest rate=7.62% p.a => 7.62/12=0.635% per month
FV=PV(1+i)^n
FV=future value = 2200
PV=present value, to be found
i=interest rate per compounding period (month)=0.00635
n=number of periods=4
2200=PV(1+0.00635)^4
PV=2200/(1.00635^4)
PV=$2144.99
In case interest is not compounded, we could apply the simple interest formula:
FV=PV(1+ni)
PV=2200/(1+4*0.00635)
PV=$2145.504
Answer:
Increase in savings resulting directly from the given change in income
= increase in income - increase in consumption = $2000-$150 = $500
Marginal propensity to save = increase in savings/increase in income = 500/2000 = 0.25
Explanation:
Answer:
The answer to the question is B I51,753 bonds
Explanation:
The present price of the bond and the total amount to be raised of $170m were used in arriving at the number of bonds to be issued.
n 20
Coupon 6.60%
YTM 7.7%*1000=77
FV 1000
PV ($1,120.25)
The current price of the bond $1,120.25
Total amount to be raised $170,000,000
Number of bonds to be issued=total amount /bond price 151,752 approx...151753
Find attached spreadsheet with formulas so as to be able to follow through.
Answer:
Explanation:
David:
Earnings from Apple Company (office manager)
$26,125
Federal income tax withheld
2,800
State income tax withheld
1,050
Darlene:
Earnings from Rose Company (perfume tester)
$25,100
Federal income tax withheld
2,650
State income tax withheld
900
Their other income includes interest from Pine Tree Savings and Loan of $1,825. Other information and expenditures for 2016 are as follows:
Interest:
On home acquisition mortgage
$11,250
Credit card
925
Taxes:
Property taxes on personal residence
1,300
State income taxes paid in 2016 (for 2015)
315
Contribution (with written acknowledgement) to church
990
Medical insurance
475
Medical and dental expenses
5,800
Income tax return preparation fee paid in 2016
200
Actual general state sales tax for 2016
1,016
Payment of union dues
225
Answer:
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