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...
Benton County includes an independent school district and two
individually chartered towns within the County. Benton County's
Treasurer assesses and collects property taxes on behalf itself,
the school district, and towns. The County uses a tax collection
custodian 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 followed:
Bebton County General Fund $25,000,000
School District 12,500,000
Towns 2,500,000
Total $40,000,000...
Benton County includes an independent school district and two individually chartered towns within the County. Benton...
Benton County includes an independent school district and two
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...
Benton County includes an independent school district and two
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:
1. The County levied taxes as follows:
Benton County General Fund $26,700,000
School District 14,200,000
Towns 4,200,000...
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....
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....
A school district wants to see if people's opinions about school closings are related to their...
A school district wants to see if people's opinions about school
closings are related to their professions. From a sample of 285
people. The following data was obtained at the alpha= .05 level of
significance, test the claim that opinions are independent of
profession.
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
) A public school district is investigating whether to purchase a new school bus to take...
) A public school district is investigating whether to purchase
a new school bus to take over the rural-most route in the district.
They have two options:
A modern, eco-friendly bus complete with seat belts and air
conditioning, will have a first cost of $95,000, cost savings (in
terms of fuel efficiency and maintenance costs) of $20,000/year the
first year, and decreasing by $1000 per year thereafter (so $19,000
the second year, 18,000 the third year, etc…). It’s estimated that...
On July 1, 2016, the Morgan County School District received a $51,000 gift from a local...
On July 1, 2016, the Morgan County School District received a
$51,000 gift from a local civic organization with the stipulation
that, on June 30 of each year, $3,600 plus any interest earnings on
the unspent principal be awarded as a college scholarship to the
high school graduate with the highest academic average. A
private-purpose trust fund, the Civic Scholarship Fund, was
created.
On July 1, 2016, the gift was received and immediately
invested.
On June 30, 2017, $3,600 of...
On July 1, 2019, the Morgan County School District received a $69,000 gift from a local...
On July 1, 2019, the Morgan County School District received a
$69,000 gift from a local civic organization with the stipulation
that, on June 30 of each year, $5,400 plus any interest earnings on
the unspent principal be awarded as a college scholarship to the
high school graduate with the highest academic average. A
private-purpose trust fund, the Civic Scholarship Fund, was
created.
On July 1, 2019, the gift was received and immediately
invested.
On June 30, 2020, $5,400 of...
ADVERTISEMENT
ADVERTISEMENT
Latest Questions
- You are writing a billing program that adds up the items a user enters. Your program...
- Theoretically, once a trader enters into a forward rate agreement (FRA), the interest locked at the...
- Create a driver class to do the following: a. Read data from the given file BankData.data...
- In well-governed companies, a sense of accountability and ethical leadership create a culture that places organizational...
- Could someone please tell me what corrections I should make to this code. (Python) Here are...
- The original Occupational and Safety Health Act was passed to correct the large n umber of...
- West Corp. issued 25-year bonds two years ago at a coupon rate of 5.3 percent. The...
ADVERTISEMENT