a team engaged in process analysis and improvement has collected data on customer complaints. their pareto chart clearly shows o
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Answer:
The bonds were issed at $ 355,834,328.88 dollars
Interest expense for the first year:
interest expense: $ 7,116,686.58
Explanation:
The bond value will be equal to the present value of the coupon payment and maturity:
Coupon: 320,000,000 x 2.5% = 8,000,000
time: 15 years x 2 payment per year = 30
rate 4% divide by 2 = 0.02
PV $179,171,644.4080
Maturity 320,000,000.00
time 30.00
rate 0.02
PV 176,662,684.47
PV coupon 179,171,644.41 + PV m 176,662,684.47 = $ 355,834,328.88
proceeds 355,834,329
face value 320,000,000
premium on bonds payable 35,834,329
interest expense:
carrying value x market rate:
355,834,329 x 2% = 7,116,686.58
Answer:
Annual deposit (PMT) = $1,567,060.39
Explanation:
Given:
Future value of annuity due = $8,000,000
Rate of interest(r) = 10% = 0.1
Number of year (n) = 4 year
Annual deposit (PMT) = ?
Computation of annual deposit :
Annual deposit (PMT) = $1,567,060.39