Answer:
current market price = $953.29
Explanation:
the market price of the bond = present value of the face value + present value of coupon payments
PV of face value = $1,000 / (1 + 3.865%)¹⁸ = $505.31
PV of coupon payments = $35 x 12.79935 (PV annuity factor, 3.865%, 18 periods) = $447.98
current market price = $505.31 + $447.98 = $953.29
Answer:
The correct answer is:
- Conduct monetary policy;
- Ensure that the financial system is stable;
- Provide banking services to commercial banks, depository institutions, and the federal government.
Explanation:
A central bank is the apex monetary authority in a country. It plays several crucial roles in the smooth working of the economy.
- A central bank issues currency on behalf of the government.
- It formulates monetary policy on behalf of the government.
- It acts as a banker for the government.
- It acts as a banker for commercial banks.
- It supervises all financial institutions.
The role of providing services to businesses and consumers is played by commercial banks. Fiscal policy is formulated by the government. The responsibility of ensuring the growth of the economy also falls with the government.
Answer:
is a medium of exchange but not a unit of account
Answer:
$21,450
Explanation:
In March,
Total direct labor hours required:
= Production budget × Direct labor hour required per unit
= 2,000 × 0.5
= 1,000 hours
Total direct labor cost = Total direct labor hours required × Direct labor hour per rate
= 1,000 hours × $13
= $13,000
In April,
Total direct labor hours required:
= Production budget × Direct labor hour required per unit
= 1,300 × 0.5
= 650 hours
Total direct labor cost = Total direct labor hours required × Direct labor hour per rate
= 650 hours × $13
= $8,450
Combined direct labor cost = $13,000 + $8,450
= $21,450
