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STatiana [176]
3 years ago
9

Barnes Enterprises has bonds on the market making annual payments, with 17 years to maturity, a par value of $1,000, and a price

of $969. At this price, the bonds yield 8.1 percent. What must the coupon rate be on the bonds? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.)

Business
1 answer:
Eva8 [605]3 years ago
5 0

Answer:

7.76%

Explanation:

In this question, we use the PMT formula which is shown in the spreadsheet.  

The NPER represents the time period.

Given that,  

Present value = $969

Future value = $1,000

Rate of interest = 8.1%

NPER = 17 years

The formula is shown below:

= PMT(Rate;NPER;-PV;FV;type)

The present value come in negative

So, after solving this, The PMT would be $77.58

The coupon rate is shown below:

= (Coupon payment ÷ par value) × 100

= ($77.58 ÷ $1,000) × 100

= 7.76%

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<h3>What does the Federal Arbitration Act of the United States of America say?</h3>

Subsection (D) of section 10 of the above stated Act state that the United States Court would vacate an award upon application by any of the party to the arbitration:

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See the link below for more about Arbitration:

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2 years ago
Analyse eskom in terms of the characteristics of a monopoly
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3 years ago
Famous Furniture Manufacturing Company reported the following information for 2019:
AfilCa [17]

Answer:

$255,500

Explanation:

Prepare a Cost of Goods Manufactured Schedule to determine the  cost of goods manufactured.

<u>Cost of Goods Manufactured Schedule</u>

Direct material used                                             $ 75,000

Direct labor                                                           $ 93,000

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6 0
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Fortuna Company is preparing its statement of cash flows. Cash disbursements during the year included:
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Luda [366]

Answer:

national borders.

Explanation:

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Basically, globalization makes it possible for various organizations to produce goods and services that is used by consumers across the world.

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