A retired couple buys a new recreational vehicle (RV) for $ 54 comma 000.00. They make a down payment of $13,000 and finance t
he balance at 9.0% APR over 60 months. Before making the 36th payment, the couple decides to pay the remaining balance on the loan. How much interest will the couple save (use the actuarial method)?
1 answer:
Answer:
Interest saved by the couple = $3497.12
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Explanation:
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Answer:
$5.50 dividend per share to common stock
Explanation:
In case a company has cumulative preference shares then the company has to pay preference dividend in arrears
Here, preference dividend was not paid in the year 2017
Preference dividend for 2017 = 500 $100
4%
= $2,000
Since the dividend is paid in between the year 2018, dividend is paid for the year 2017 and not for 2018 thus preference dividend is for a year, only for 2017
Therefore, dividend to common equity = $35,000 - $2,000 = $33,000
Dividend per share = $33,000/6,000 = $5.50 per share