FUND.OF FINANCIAL MGMT:CONCISE-MINDTAP
FUND.OF FINANCIAL MGMT:CONCISE-MINDTAP
10th Edition
ISBN: 9781337910972
Author: Brigham
Publisher: CENGAGE L
Question
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Chapter 7, Problem 11Q
Summary Introduction

To identify: The difference between a call for sinking fund purposes and refunding call.

Introduction:

Sinking Fund: Sinking fund refers to the investment made by the issuer of the debt instrument annually, which is used to redeem bonds at maturity.

Bond Valuation: Bond valuation refers to the evaluation of bonds value at any point of time which can be used for decision making. Valuation of bond is done for comparison and analysis.

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The maturity value of an $35,000 non-interest-bearing, simple discount 4%, 120-day note is:
Carl Sonntag wanted to compare what proceeds he would receive with a simple interest note versus a simple discount note. Both had the same terms: $18,905 at 10% for 4 years. Use ordinary interest as needed. Calculate the simple interest note proceeds.   Calculate the simple discount note proceeds.
What you're solving for    Solving for maturity value, discount period, bank discount, and proceeds of a note.        What's given in the problem    Face value: $55300 Rate of interest: 10% Length of note:   95 days Date of note: August 23rd Date note discounted: September 18th   Bank discount rate:9 percent

Chapter 7 Solutions

FUND.OF FINANCIAL MGMT:CONCISE-MINDTAP

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