When a bank extends you credit, it allows you to borrow money and pay it back later with interest.
The total amount of money that a person or company can borrow from a financial institution is known as bank credit. The borrower's credit score, income, assets, collateral, and previous debt all play a role in whether or not credit is approved. Credit from banks can be secured or unsecured.
Bank credits are sums of money that are given out for both short- and long-term uses. Trade credit refers to money borrowed from one business to another for the purpose of purchasing goods and services from that business and making payments later.
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Answer:
$117,544.14
Explanation:
Current Price of bond is $114,877.47.
Accrued interest for 4 month = $4,000 × (4 / 6)
= $2,666.67
Price of bond after 4 month of purchase = $114,877.47 + $2,666.67
= $117,544.14.
Price of bond after 4 month of purchase will be $117,544.14.
The picture attached shows how to get the current price of bond on excel.
Answer:
$15,960
Explanation:
The total profit on units sold for the consignor:
= Sales Value - Cost of Goods Sold - Shipping Expenses - Commission - Advertising Expenses - Installation and setup costs
= (40 × $720) - (40 × $220) - [$1,850 × (40/50)] - ($28,800 × 5%) - $470 - $650
= $28,800 - $8,800 - $1,480 - $1,440 - $470 - $650
= $15,960