Answer:
$936.17
Explanation:
The current market price of the bond = present value of all coupon received + present value of face value on maturity date
The discount rate in all calculation is YTM (6.12%), and its semiannual rate is 3.06%
Coupon to received semiannual = 5.3%/2*$1000= $26.5
We can either calculate PV manually or use formula PV in excel to calculate present value:
<u>Manually:</u>
PV of all coupon received semiannual = 26.5/(1+3.06)^1 + 26.5/(1+3.06)^2....+ 26.5/(1+3.06)^24 = $445.9
PV of of face value on maturity date = 1000/(1+6.12%)^12 = $490.27
<u>In excel:</u>
PV of all coupon received semiannual = PV(3.06%,24,-$26.5) = $445.9
PV of of face value on maturity date = PV(6.12%,12,-$1000) = 1000/(1+6.12%)^12 = $490.27
The current market price of the bond = $445.9 + $490.27 = $936.17
Please excel calculation attached
Answer:
Ensuring products are well below the going market rate.
Quality of products offered.
Efforts to improve the lives of members.
Explanation:
Answer:
Given that,
Total prepaid insurance = $6,700
Monthly insurance:
= Total prepaid insurance ÷ 4 months
= $6,700 ÷ 4 months
= $1,675
Insurance expense for two months:
= $6,700 - $1,675
= $5,025
Therefore, the adjusting entry required on December 31 is as follows:
Insurance expense A/c Dr. $5,025
To Prepaid insurance $5,025
(To record the adjusting entry for the insurance)
Answer:
I would choose B. But im not 100% sure.
Explanation: