True or false. Convertible preferred stock may be exchanged, at the corporation's option, for a specified number of shares of co
2 answers:
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Answer:
(a) Dollar price of the bond = Par value × Current price percentage
= $1,000 × 106.124%
= $1,061.24
(b) Bond's current yield:
Annual interest paid in dollars = Bond par value × Rate of interest
= $1,000 × 7.8%
= $78
= 0.0734
= 7.34%
(c) Issue price of bond is $1,000 and current maturity price is $1,061.24. Thus, bond price is greater than the par value.
(d) Current yield is the return on bond at current price. Yield to maturity is 6.588 % and current yield is 7.34%. Since the current price is more than the par value, therefore, YTM is lower than the current yield.
Answer:
Explanation:
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The monthly payment for this car loan is equal to: D. $505. 79.
<u>Given the following data:</u>
- Time = 5 years
- Principal = $23,570
- Interest rate = 10.43%
To calculate the monthly payment for this car loan:
Mathematically, the monthly payment on a loan is given by this formula:
<u>Where:</u>
- P is the principal or amount borrowed.
- r is the interest rate.
- M is the monthly payment.
- t is the number of years.
Substituting the given parameters into the formula, we have;
Monthly payment, M = $505.79
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