The amount for the first semiannual interest period is: $3,318.41.
The semi-annual rate is the simple annual hobby quotation for compounding twice a year. Coupon charges on bonds paying hobby twice per yr are commonly expressed as semi-annual prices. This makes prices broadly comparable, even as also allowing the amounts of constant hobby coupons to be decided effortlessly.
Semiannual is an adjective that describes something that is paid, pronounced, published, or otherwise takes area twice every 12 months, normally as soon as every six months.
Time = 5 years
bond interest rate = 7%
parvalue = $100,00
market rate whwn the bond were issued = 6.5%
Amount received by the company = $102,105
the amount for the first semiannual period = 3500- 210.5 = $3289.5
Therefore, the first semiannual interest period is: $3,318.41.
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Option B= $23000 is the answer.
Let the bakery's sales for the month be represented by = x
As given, the bakery has total receipts for the month = $24150
Rate of sales tax = 5%
This implies that total monthly sales(x) + sales tax on 'x' = 24150
Hence, the bakery's sale for the month is $23,000