Answer:
See explanation
Step-by-step explanation:
1. Find the GCF of 40 and 44:
So,
2. Find the GCF of 13 and 52:
So,
3. Find the GCF of 15 and 81:
So,
4. Find the GCF of 64 and 28:
So,
KatyDid Clothes has a $120 million (face value) 25-year bond issue selling for 103 percent of par that carries a coupon rate of
1 answer:
Answer:
8.704%
Step-by-step explanation:
The computation of the before cost of debt is as follows
Given that
Future value = $100
Present value = $103
NPER = 25 × 2 = 50
PMT = $100 × 9% ÷ 2 = $4.5
The formula is presented below:
= -RATE(NPER;PMT;PV;FV;TYPE)
After applying the above formula, the rate is 4.3518%
Yearly rate is
= 4.3518% ×2
= 8.704%
You might be interested in