Answer:
More than $500,000.
Explanation:
In the case when the coupon rate is more than the market interest rate so the bond would be on premium
And, if the coupon rate is less than the market interest rate so the bond would be on discount
And if both are equal so it should be in par
Now in the given case, since the rate of interest is 7% and the market rate of interest is 6% so it would be on premium
That means the bond price would sell at more than $500,000
I believe the answer is: A. a retail bank
Retail bank is the type of bank that focus on serving personal customers for their daily needs.
- Saving and loans usually serve the customers who want to obtain loan to fund their business.
- Commercial bank usually used by someone who are guidance to manage their finance
- Investment bank facilitates the purchase of various investment products (such as stocks and bonds)
Answer:
The APY is 14.9%
Explanation:
To find the annual percentage yield we need to compute the effective annual rate of interest.
The Effective annual rate of return(EAR) is the equivalent rate to be paid where compounding is done frequently at period or interval less than a year.
Compounding implies the regular interval when interest is always computed; in this scenario, it is monthly.
The EAR can be worked out as follows
EAR = ( (1+r)^m - 1 ) × 100
r- interest rate per period
m- number of periods in a year
EAR - Effective annual rate
r = 3.5%/3 = 1.167
% per month
m= number of months in a year = 12
EAR =( 1.01167^12-1)× 100 = 14.9%
The APY is 14.9%
This implies the quoted interest rate of 3.5% per quarter is the same as paying 14.9% per year
Answer:
Calculate PV of a 10-year annuity discounted at 6% interest rate; PV = $11,040.13.
Explanation:
Answer:
A. Answer questions about the project prior to submittal of proposals
Explanation:
A bidder conference is a meeting held by a buyer to discuss a possible purchase with multiple potential suppliers.
