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VLD [36.1K]
3 years ago
13

On September 1, 2021, Red Co., issued $48 million of its 10% bonds at face value. The bonds are dated June 1, 2021, and mature o

n May 30, 2031. Interest is payable semiannually on June 1 and December 1. At the time of issuance, Red would receive cash proceeds that would include accrued interest of:
Business
1 answer:
Harlamova29_29 [7]3 years ago
3 0

Answer:

$1,200,000

Explanation:

The computation of the accrued interest is shown below:

= Principal × rate of interest × number of months ÷ (total number of months in a year)  

= $48,000,000 × 10% × (3 months ÷ 12 months)

= $1,200,000

We simply applied the simple interest formula by considering the principal amount, rate of interest and the number of months so that the correct amount could come

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Answer: 18%

Explanation:

The payments that your friend will make are an annuity as they are constant. This means that the loan amount of $15,000 is the present value of the annuity.

To find the rate of return, use the factor tables.

Present value of annuity = Annuity * Present value interest factor of annuity, 14 years, ?%

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Present value interest factor of annuity, 14 years, ?% = 15,000 / 3,000

Present value interest factor of annuity, 14 years, ?% = 5.0

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3 years ago
Cordell Inc. experienced the following events in 2018, its first year of operation:
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Answer:

Cordell Inc.

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3. Paid a $6,000 cash dividend to the stockholders.

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Event 5. Payment for operating expenses      ($53,000)

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