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mel-nik [20]
3 years ago
15

Two years ago, you purchased a $1,000 par value corporate bond with a coupon interest rate of 7.25 percent. Today, comparable bo

nds are paying 7.00 percent. What is the approximate dollar price for which you could sell your bond?
Business
1 answer:
kirza4 [7]3 years ago
7 0

Answer:

$1,035.71

Explanation:

first we must determine the annual interest = face value x coupon rate = $1,000 x 7.25% = $72.50

now to determine the approximate market value = annual interest / market interest rate = $72.50 / 7% = $1,035.71

since the market rate is lower than the coupon rate, you can sell your bond at a premium

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What do you think about the value of trend watching for supporting marketing decision-making? Would it be relevant in your busin
Katena32 [7]

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6 0
2 years ago
Sorter Company purchased equipment for $330,000 on January 2, 2019. The equipment has an estimated service life of 8 years and a
Makovka662 [10]

Answer:

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5 0
3 years ago
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Bezzdna [24]
The choice that does not describe the balance sheet is D. The balance sheet contains only assets and liabilities sections.

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The assets, liabilities, and owner's equity sections of the balance sheet reflects the results of multiple transactions creating an image of a business in financial terms.


6 0
3 years ago
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