Question
In: Finance
Stewart County School District is about to raise funds for a new school through a bond...
Stewart County School District is about to raise funds for a new school through a bond issue. The plan is to raise $3,475,000 with a 2.85% coupon, 10-year bond. The underwriter indicates the bonds will be sold at a price of $101.15 per $100. The yield to maturity on the bond is:
Solutions
Expert Solution
Yield to maturity = RATE(number_of_periods, payment_per_period, present_value, [future_value], [end_or_beginning], [rate_guess])
=>
YTM = RATE(10, 100 * 0.0285, -101.15,100)
= 2.72%
jeff jeffy answered 2 years agoRelated Solutions
Stewart County School District is about to raise funds for a newschool through a bond...
Stewart County School District is about to raise funds for a new
school through a bond issue. The plan is to raise $3,475,000 with a
3.15% coupon, 12-year bond. The underwriter indicates the bonds
will be sold at a price of $100.65 per $100. The yield to maturity
on the bond is:
Benton County includes an independent school district and two individually chartered towns within the County. Benton...
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individually chartered towns within the County. Benton County’s
Treasurer assesses and collects property taxes on behalf of itself,
the school district, and the towns. The County uses a tax
collection custodial fund to record tax collections for the school
district and towns. During the year ended December 31, 2020, the
following transactions took place:
1. The County levied taxes as follows:
Benton County General Fund
$
25,000,000
School District
12,500,000
Towns...
Benton County includes an independent school district and two individually chartered towns within the County Benton...
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individually chartered towns within the County Benton Countr's
Treasurer assesses and collects property taxes on behalf of itself,
the school district, and the towns. The County uses a tax
collection custodial fund to record tax collections for the school
district and towns. During the year ended December 31, 2020, the
following transactions took place:
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Baird County maintains an investment trust fund for the School District and the Town of Bairdville...
Baird County maintains an investment trust fund for the School
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Presented below is the preclosing trial balance for the investment
trust fund, a private-purpose trust fund.
Trial Balance—December 31,
2017
Debits
Credits
Accrued Interest
Receivable
$
23,000
Cash
38,300
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Baird County maintains an investment trust fund for the School District and the Town of Bairdville...
Baird County maintains an investment trust fund for the School
District and the Town of Bairdville (separate governments).
Presented below is the preclosing trial balance for the investment
trust fund, a private-purpose trust fund.
Trial Balance—December 31, 2017
Debits
Credits
Accrued Interest Receivable
$
23,000
Cash
38,300
Deposits—School District
$
459,600
Deposits—Town of Bairdville
336,200
Decrease in Fair Value of Investments (bonds)
15,300
Interest Income
91,800
Investments—Corporate Bonds
1,576,000
Investments—U.S. Treasury Securities
1,530,000
Net Position held in trust—School District (Jan....
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A school district wants to see if people's opinions about school
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Teachers
other white collar workers
Blue collar workers
row totals
Favor
14
8
8
30
oppose
105
75
75
255
column totals
119
83
83
285
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On July 1, 2019, the gift was received and immediately
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