Answer:A safe deposit box, also known as a safety deposit box, is an individually secured container, usually held within a larger safe or bank vault. Safe deposit boxes are generally located in banks, post offices or other institutions. ... In the United States, neither banks nor the FDIC insure the contents.
Explanation:
Answer:
$3,791
Explanation:
Given that
Expected amount received = $1,000
Number of years = 10 years
Rate of interest = 5
So, the present value of this annuity would be
= Expected amount received × PVIFA factor at 5 years at 10%
= $1,000 × 3.7908
= $3,791
Refer to the PVIFA table
Simply we multiplied the expected amount received by the PVIFA factor
Answer:
d. $970.36
Explanation:
The market price of the bond (Pv) can be calculated as follows :
Pmt = ($1,000 × 6.5%) ÷ 2 = $32.50
P/yr = 2
i = 6.99%
n = 8 × 2 = 16
Fv = $1,000
Pv = ?
Using a Financial calculator to enter the values as above, the market price of the bond (Pv) is $970.3583 or $970.36.