Maurice Tutor

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Teaching Since: May 2017
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  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 05 Oct 2017 My Price 2.00

annual expense

A company sold a $1,000,000 issue of bonds with a 15-year life, paying 4% interest per year. The bonds were sold at par value. If the company paid a selling fee of $50,000 and has an annual expense of $70,256 for mailing and record keeping, what is the true rate of interest that the company is paying for the borrowed money?

 

 

Answers

Maurice Tutor
(5)
Status NEW Posted 05 Oct 2017 10:10 PM My Price 2.00

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