Answer:
R = 8.2803%
Rounded: 8%
Explanation:
Solving our equation:
r = (1/3)(98000/78500) - 1) = 0.08280255
r = 0.08280255
Converting r (decimal) to R a percentage
R = 0.08280255 * 100
= 8.2803%
Hope this helped! :D
9% interest to be paid on August 31, 2022, is $1,710.
The price of return that lenders call for for the ability to borrow their cash. for example, the interest rate on credit playing cards is quoted as an APR. In our instance above, four% is the APR for the mortgage or borrower. The APR does not keep in mind compounded interest for the yr.
There are some public sectors in addition to private zone banks in India. although every bank, typically has a different range of interest price for savings bills, the rates commonly range from 2.70% p.a. to six.25% p.a. 2.70% p.a. to 6.50% p.a.
Paid interest is a hobby you've already been credited or paid for. As noted, before virtually having access to the hobby, it's really accruing. however, once that sum hits our account or balance, it is now known as a paid hobby.
Learn more about bank interest here:-brainly.com/question/15728540
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Answer:
a.
Cash 27000 Dr
Common Stock 13500 Cr
Paid in capital in excess of par-Common stock 13500 Cr
b.
Cash 135000 Dr
Preferred Stock 135000 Cr
Explanation:
a.
When we issue stock at premium, we always record the amount received from such issuance of stock at full. So, the cash account will be debited for 4500 * 6 = 27000
However, we record the common stock issued at par value and the remaining is credited under the reserve account which is Paid in capital in excess of par.
Thus the common stock will be credited by its par value of 4500 * 3 = 13500 and the remaining 4500 * 3 will be credited to the Paid in Capital account.
b.
The par value of the preferred stock is 4500 * 30 = 135000
Thus the preferred stock is issued at par and we simply debit the cash received from the issue and credit the preferred stock.
