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Kitty [74]
3 years ago
7

Dong Wang wants to retire when he has saved $1,500,000. He can make 30 payments of $15,000 each, with each payment made at the b

eginning of the year. What would be the interest rate required to help him achieve his goal
Business
1 answer:
agasfer [191]3 years ago
7 0

Answer: 6.94%

Explanation:

You can use an Excel worksheet to solve for this:

Number of periods = 30

Payment = 15,000 (should be a negative number)

Present value = 0

Future value = 1,500,000

Type = 1 (this shows that it is an annuity due because payments are at the beginning of the year).

Rate = 6.94%

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6 0
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Imagine that a food critic visits your restaurant and writes a positive review that was then published in a magazine. This is an
BartSMP [9]

Answer:

Good Quality or Service

Explanation:

This is a very general question however I’ll try to answer it to the best of my knowledge.

This is an example of Good Quality or Service OR Public Relations or Promotion.

Good Quality or Service – The food quality or the service at the Restaurant must be very good that the food critic was so impressed that he/she published this review on the magazine so that others may try the delicious food of this Restaurant.

Public Relations or Promotion – Regardless of the food quality or the service at the Restaurant, the restaurant owner had paid the food critic/blogger to post good reviews about his/her Restaurant in the magazine which would attract more customers to this Restaurant.

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3 0
3 years ago
A company wishes to raise $170 million by issuing 20-year annual coupon bonds. Each bond will have a face value of $1,000; coupo
Margarita [4]

Answer:

The answer to the question is B I51,753 bonds

Explanation:

The present price of the bond and the total amount to be raised of $170m were used in arriving at the number of bonds to be issued.

n 20  

Coupon 6.60%  

YTM 7.7%*1000=77  

FV 1000  

PV ($1,120.25)  

The current price of the bond   $1,120.25  

Total amount to be raised   $170,000,000  

Number of bonds to be issued=total amount /bond price    151,752 approx...151753

Find attached spreadsheet with formulas so as to be able to follow through.

Download xlsx
6 0
3 years ago
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