Given:
Future value, F=60508.29
Monthly payment, A = 165
Compounding period = month
Number of periods, n = 12*12=144
interest per period = i [ to be found ]
We have the relationship
F=A((1+i)^n-1)/i
but there is no explicit formula for i for given F, A and n.
We need to solve a non-linear equation for the value of i, the monthly interest rate.
One of the ways is to solve it by fixed iteration, i.e.
1. using the given relation, express i in terms of other parameters.
2. select an initial value of i
3. evaluate i according the equation in step 1 until the value is stable.
Here we will use the relationship to express
i=((60508.29*i)/165+1)^(1/144)-1 [ notice that i is on both sides of = sign ]
using an initial value of i=0.01 (about 1% per month).
Successively, we get
i=((60508.29*0.01)/165+1)^(1/144)-1=0.01075571
i=((60508.29*0.01075571)/165+1)^(1/144)-1=0.011160681, similarly
i=0.0113685
i=0.0114728
i=0.0115246
i=0.0115502
i=0.0115628
i=0.0115690
i=0.0115720
Assuming the above has stablilized, and the APR is 12 time the above value, namely
Annual percentage rate = 0.01157205998210142*12=0.13886=13.89%
Answer:
(C) Bonds Payable for $150,000
Explanation:
the face value of the bonds will the value at which bonds payable account enter the accounting. Then, there is a discount which decrease the net value of the bonds:
Bonds Payable 150,000 credit
Discount on bonds 15,000 debit
When the bonds are converted, we will write-off these account against common stock and additional paid-in
To wirte-off the account we need to post them in the other side so we got:
Bonds payable debit 150,000 debit
Discount on bonds 15,000 credit
Common Stock xx credit
Additional paid.in xx credit
These makes option C correct
A chronological resume lists your work experience in order of time, usually starting with the newest job and working your way backward. Skills resume lists the skills you have acquired from each job and groups them together. For instance, "leadership" may be a skill, so you would have a section entitled "Leadership" and then you would list all the leadership skills and tasks you have done.
These are similar because you will still list all your previous work history, skills, accomplishments, etc but the difference is in how you categorize and list them.
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The Consumer Product Safety Commission was established to protect consumers from poor manufacturing and to make sure that products met quality and safety standards.
