# math

A company requires the amount of \$645,000 in 15 years to retire a bond issue. Assume they can earn 4 1/2 % interest compounded daily. What amount would they have to pay quarterly to be able to retire this debt in 15 years?

1. 👍 0
2. 👎 0
3. 👁 180

## Similar Questions

1. ### Finance

A company requires the amount of \$1,000,000 in 25 years to retire a bond issue. Assume they can earn 5 3/4% interest compounded daily. What amount would they have to pay quarterly to be able to retire this debt in 25 years?

asked by ashley on December 9, 2010
2. ### accounting

You issue a \$120,000 bond at par on March 31 due in 10 years that pays 11%. You pay interest on September 30. You pay off the bond ten years later. Assume that the company makes no adjusting entries. What journal entries should be

asked by Kimmie on December 8, 2012
3. ### Math

Tri-Star Airlines intends to pay off a \$20,000,000 bond issue that comes due in 4 years. How much must the company set aside now, at 6 % interest compounded quarterly, to accumulate the required amount of money?

asked by Heyhi on May 10, 2018
4. ### finance

Jiminy's Cricket Farm issued a 30-year, 7.2 percent semiannual bond 9 years ago. The bond currently sells for 85.5 percent of its face value. The book value of this debt issue is \$107 million. In addition, the company has a second

asked by Sara on May 9, 2016
5. ### Finance

YNB Ltd. acquired Pty Ltd. 10 years ago. In order to fund this acquisition, YNB Ltd issued a bond. Currently it has an outstanding amount of \$50,000,000 with maturity in 2 years. The bond has a coupon rate of 5% (payable

asked by Mounir on October 2, 2015
6. ### finance

Peyton’s Colt Farm issued a 30-year, 7.2 percent semiannual bond 6 years ago. The bond currently sells for 87.5 percent of its face value. The company’s tax rate is 38 percent. The book value of the debt issue is \$103 million.

asked by juli on November 20, 2012
7. ### STOCKS & BONDS

Two years ago, Gamma Inc. sold a \$250 million bond issue to finance the purchase of new jet airliners. These bonds were issued in \$1,000 denominations with an original maturity of 14 years and a coupon rate of 12% with interest

asked by Yinka on November 15, 2012
8. ### Accounting

1. The price of a bond is equal to the sum of the interest payments and the face amount of the bonds. 1. True 2. False 2. When a corporation issues bonds, it executes a contract with the bondholders, known as a bond debenture. 1.

asked by Tasha on July 25, 2010
9. ### Finance

You are now 30 years old. You plan to retire in 30 years, and expect to live for 30 years after retirement, that is, until you are 90. You want a fixed retirement income that has the same purchasing power at the time you retire as

asked by Anonymous on February 4, 2010
10. ### accounting

These questions are so confusing. So I was wondering what are each of the formulas to solve each question or what steps I need to take to complete them? I've been trying and I can't find the correct answer. ____ 11. The Dayton

asked by Mickey on February 22, 2010

More Similar Questions