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2 years ago

If $1,000,000 of 9% bonds are issued at 102 3/4, the amount of cash received from the sale is

Business

1 answer:

Marina86 [1]2 years ago

6 0

Answer:

b.$1,027,500

Explanation:

First we need to find the number of bonds issued so we will divide 1,000,000 by 100 as we assume 100 is the face value. 1,000,000/100=10,000

Now we will multiply the number of bonds by the issue price in order to find the amount of cash received.

10,000*102.75=1,027,500

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Answer:

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Explanation:

Amount of Loan needed = $140,000

A point is an optional fee which helps you get a lower interest rate on your loan.
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Choice 2

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Monthly Payment

P=$140,000

Monthly Rate=3.5% ÷ 12=0.035 ÷ 12=0.0029

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$=\dfrac{Pr(1+r)^n}{(1+r)^n-1}$

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Monthly Payment=$627.10

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3 years ago

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