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3 years ago

When were merchant banks first established as a service to the public?

1 answer:

4 0

Hello,

The answer is option D (or 4) "<span>The 19th century".

Reason:

In the 19th century merchants made there first banks which was put as a service to the public. Banks were made in order people could keep there money somewhere safe besides there homes. Its not option A because the middle age was mainly about power and knights therefore they keep there money in something called a treasure room. Its not option B because the 17th century was when are country was still developing therefore did not have any banks available to the public. Its also not option C because was when the Great War was which was 1819 so therefore the country was still developing.

If you need anymore help feel free to ask me!

Hope this helps!

~Nonportrit</span>

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Answer:

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Years ago, the travel industry was controlled by a few large travel companies that booked holidays, air tickets, bus tickets, an

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3 years ago

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3 years ago

Read 2 more answers

On June 1, Greendale Corp. issued $700,000, five-year bonds at 8%, with interest payable annually on May 31. The bonds sold for

elena-14-01-66 [18.8K]

Answer:

$23,709

Explanation:

Data provided in the question:

Amount of bond issued = $700,000

Duration = 5 years

Interest rate = 8%

Selling amount of bond = $728,700

Market rate of interest = 7%

Now,

Interest paid = Amount of bond issued × Interest rate

= $700,000 × 0.08

= $56,000

Interest expense = Amount of bond sold × Market Interest rate

= $728,700 × 0.07

= $51,009

unamortized premium = Selling amount of bond - Amount of bond issued

= $728,700 - $700,000

= $28,700

Amortized amount = Interest paid - Interest expense

= $56,000 - $50,009

= $4,991

Balance of the premiums on bonds payable account immediately following the first interest payment

= unamortized premium - Amortized amount

= $28,700 - $4,991

= $23,709

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