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grigory [225]
4 years ago
7

The Permanent School Fund distributes money to school districts across the state based on what two factors?

Business
1 answer:
bogdanovich [222]4 years ago
5 0

Answer:

Explaination given below:

Explanation:

The Permanent School Fund distributes money to school districts across the state based on the two factors as follows:

* student attendance

           &

* guaranteed bonds issued by local school boards

The Permanent School Fund was organized in the year around 1854. The central goal of the Permanent School Fund is to support primary as well as secondary schools in the state.

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Sure Tea Co. has issued 6.3% annual coupon bonds that are now selling at a yield to maturity of 9.20% and current yield of 8.777
alina1380 [7]

Answer:

Ans. 26 years is the remaining maturity of this bond.

Explanation:

Hi, we have to find the price of the bond, so we use the following formula.

CurrentYield=\frac{Coupon}{Price}

This means that:

Price=\frac{Coupon}{CurrentYield} =\frac{63}{0.08777} =717.79

Let´s not forget that the Coupon is calculated by the following formula.

Coupon=FaceValue*CouponRate=1,000*0.063

Now that we found that the price of the bond is $717.79, we have to bring to present value the remaining coupons and the principal that is paid at the end, so we have to solve for "n" the following equation, discounted at the yield to maturity.

Price=\frac{Coupon((1+YTM)^{n}-1) }{YTM(1+YTM)^{n} } +\frac{FaceValue}{(1+YTM)^{n} }

Let´s fill up what we can

717,79 =\frac{63((1+0.092)^{n}-1) }{0.092(1+0.092)^{n} } +\frac{1,000}{(1+0.092)^{n} }

But to solve for "n" is pretty painful, so we can use a financial calcultator o MS Excel. Please find the MS Excel sheet that I used with the "Seek Goal" formula instruccions as follow.

Set Cell: $C$19

To Value: 717,79

By Changing cell: $C$14

So the answer is 26

Best of luck.

Download xlsx
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Answer:

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Answer:

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True or false: the amount of income you make affects the amount of federal taxes you will owe.
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