The ____________________ of money is worth more than money in the future.
Fill in the blank(s) with correct word
Q. 2On May 1, James Kirby purchased 10 Oceanic Corporation bonds with a coupon rate of 9 and a current market price of 106.375. The commission charge is 5.00 per bond. The bond pays interest on January 1 and July 1. What was the total purchase price?
Q. 3Compound interest yields considerably ____________________ interest than simple interest.
Fill in the blank(s) with correct word
Q. 4Given the following bond quotation, find the current percent yield. Altria GP MO.HC 9.7000 NOV 2018 Baa1/BBB/BBB+ 134.029 128.310 128.310 -3.246 7.560
Q. 5____________________ interest is interest that is applied a number of times during the term of a loan or investment.
Fill in the blank(s) with correct word
Q. 6Allen bought 150 shares of stock at 31.25 per share. Several months later he sold the stock at 25 per share. His broker charges 3 commission for round lots and 4 for odd lots. Calculate the gain or loss on the transaction. (If loss, enclose in parenthesis)
Q. 7To solve for the rate, use the following formula: Rate = Principal x Interest x Time
Indicate whether the statement is true or false
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