Based on the coupon rate of Guggenheim Inc's bond as well as its yield to maturity, the market price is $1,768.55.
<h3>What is the market price of the bond?</h3>
First, find the coupon amount:
= 7.3% x 2,000
= $146
The market price is:
= ( 146 x (1 - (1 + 8.5%)⁻²¹) / 8.5%) + 2,000 / (1 + 8.5%)²¹
= 1,407.97 + 360.58
= $1,768.55
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This statement is false.
The nation's total wealth didn't almost triple, it almost doubled between those years, whereas the rest of the sentence is indeed correct. The living standard in America was great - everyone was prosperous and could afford to live better than ever, at least for a while.
Answer:
Income elasticity of demand = - 0.56
Explanation:
Given,
P=10, Pc=100, Pd=2, A=5, and I=50.
So,
Q=200-5(10)-.1(100)-.5(2)+.2(5)-(50).
Q=90 (level of income)
Computation:
Given , I = 50, Q = 90.
ΔQ / ΔI = -1
Income elasticity of demand = (ΔQ / ΔI) x (I / Q)
Income elasticity of demand = - 1 x (50 / 90)
Income elasticity of demand = - 0.56
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