Answer:
Russian Economy will grow by 14.46 times using 9% per year growth for 31 years.
Explanation:
Growth Rate = g = 9% = 0.09
Number of years = n = 31 years
Number of time economy grow = ( 1 + growth rate )^number of years
Number of time economy grow = ( 1 + g )^n
Number of time economy grow = ( 1 + 0.09 )^31
Number of time economy grow = 14.46 times
So, Russian Economy will grow by 14.46 times using 9% per year growth for 31 years.
Answer:
$42,480
Explanation:
Given that,
Value of bonds = $800,000
Interest rate = 10%
Selling price of bond (Book value) = $708,000
Priced to yield = 12%
The semi-annual yield is calculated as follows:
= 12% / 2 (because the interest is payable semiannually on June 30 and December 31)
= 6%
Therefore, the semi-annual bond interest expense:
= Selling price of bond × semi-annual yield
= $708,000 × 6%
= $42,480
Hence, the Blair should report bond interest expense for the six months ended June 30, 2021 in the amount of $42,480.
But the actual cash paid for the interest expense will be:
= (Value of bonds × Interest rate on bonds)
= [$800,000 × (10%/2)]
= $800,000 × 5%
= $40,000
So, the amortization for bond discount is the difference between actual cash paid and bond interest expense:
= $42,480 - $40,000
= $2,480
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C. John Jacob Astor.
The American business that had a monopoly on the fur trade in the far west was founded by John Jacob Astor.
The business was called American Fur Company. Since it was founded, the company grew to monopolize the fur trade in the United States by 1830. It became one of the largest and wealthiest businesses in the United States.
