Answer:
$788.22
Explanation:
We use the PV function that is reflected on the spreadsheet below. Kindly find the attachment
Provided that,
Assuming the Future value = $1,000
Rate of interest = 8.6% ÷ 2 = 4.30%
NPER = 10 years × 2 = 20 years
PMT = ($1,000 × 5.4%) ÷ 2 = $27
The formula is shown below:
= -PV(Rate;NPER;PMT;FV;type)
So, after solving this, the price of the bond is $788.22
Answer:
D
Explanation:
A savings account is an account owned by an individual at a bank. He keeps his money there, and earn interest at the end of the month for his savings.
A minimum balance is sometimes required by the banks for a savings account, customers are expected to keep such minimum balance always if not, the account will be closed down.
Answer:
Option (C) is correct.
Explanation:
Here, we are using the double declining-balance depreciation method:
Given that,
Building cost = $800,000
Estimated residual value of the building = $50,000
Expected useful life = 25 years
Annual depreciation rate as per straight line method:
= 100 ÷ 25 years
= 4% per year
Hence, depreciation as per double decline balance method:
= 2 × Annual depreciation rate as per straight line method × Beginning value of each period
In year 1,
Ending value = Beginning value - Depreciation
= $800,000 - (2 × 4% × $800,000)
= $800,000 - $64,000
= $736,000
In year 2,
Depreciation = 2 × 4% × $736,000
= $58,880
Answer:
- Total quality management (TQM) describes a management approach to long-term success through customer satisfaction. In a TQM effort, all members of an organization participate in improving processes, products, services, and the culture in which they work.
Explanation:
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