If you made a 17% profit on the $76,000 sale of a lot, how much did you pay for the lot?
1 answer:
For this case, the total percentage paid for the land is given by:
Then, we can make the following rule of three:
76000 ----------------> 100%
x -----------------------> 83%
From here, we clear the value of x.
The value of x is the amount that was paid for the lot.
We have then:
Answer:
You paid 63080 $ for the lot
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Answer:
10,064 bonds
Explanation:
Given:
Amount to be raised = $2,800,000
Par value (FV) = $1,000
Maturity (nper) = 20×2 = 40 periods
Yield (rate) = 6.49 ÷ 2 = 3.245% or 0.03245
Coupon payment is 0 as it's a zero coupon bond.
Assume it's compounded semi-annually.
Calculate the price of the bond today using spreadsheet function =PV(rate,nper,pmt,FV)
Price of bond is $278.23
PV is negative as it's a cash outflow.
Number of bonds to be sold = Total amount to be raised ÷ Price of bond
= 2,800,000 ÷ 278.23
= 10,064 bonds
Company should sell 10,064 bonds to raise $2.8 million
