Answer:
$312,000
Explanation:
The value of CD in one year time shall be given as follow:
Value of CD after one year= Current value(1+interest rate)^1
Value of CD after one year=?
Current value=$300,000
interest rate=4%
Value of CD after one year=$300,000(1+4%)^1
=300,000*1.04
=$312,000
Answer:
Price controls are government-mandated minimum or maximum prices set for specific goods and are typically put in place to manage the affordability of the goods. ... Over the long term, price controls can lead to problems such as shortages, rationing, inferior product quality, and black markets.
Explanation:
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Answer:
The interest accrued is $2,500.
Explanation:
The income accrued will arise after the date of purchase (May 1) of the bonds to the ending date of the accounting period (December 31). This duration is equal to 8 months.`
For the first four months (May 1 to September 1) the income accrued will be the income received semiannually for these four month:
Income Accrued = $60,000 * 6/12 * 5% = $1,500 Because the payment that will be received will be $1000 which belongs to 6 months starting from March 1 and ending at September 1.
And for the remainder 4 months (September 1 to December 31)
Income Accrued = $60,000 * 4/12 * 5% = $1,000
So the total income accrued for the year will be $2,500
Answer:
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