Hi Tech Products has 35,000 bonds outstanding that are currently quoted at 102.3. The bonds mature in 11 years and carry a 9 per
1 answer:
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Wyatt's effective interest rate would be greater than his nominal interest rate include option D: 0. 71 percentage points.
<h3>How much greater is Wyatt’s effective interest rate than his nominal interest rate?</h3>Given Information:
Nominal interest rate =13. 62%
Here, the value of the effective rate of interest is 0.1433 that is multiplied with 100 to get the percentage value of 14.33%.
Hence, the difference between effective and nominal interest rates would be:
=14.33-13.62
=0.71%
Therefore, correct option is D.
Learn more about compound interest, refer to the link:
Answer:
Cash payments:
March $30,300
April $51,660
May $58,490
Explanation:
The following costs amounting to $9,000 should be deducted from the projected expenses per month
A. Insurance costs (it had been prepaid in February)
B. Depreciation (it doesn't involve any cash movement)
C. Property tax (it won't be due for payment until June)
This leaves each month expense as shown in the attached schedule. And based on the 70 : 30 rule, the table reflects the full payment structure.
