1. Abler Corporation has corporate bonds trading in the market at $820. These bonds have $1000 face (or maturity) value and pay an 8% stated (or coupon) rate annually ($40 every six months). These bonds have 12 years to maturity. What is the pretax cost of Abler Corporation's debt?

10.70%

Explanation:

NPER = 12*2 = 24

PMT = 40

PV = -820

FV = 1000

Pretax Cost of Debt = Rate (NPER, PMT, -PV, FV) * 2

Pretax Cost of Debt = Rate(24, 40, -820, 1000) * 2

Pretax Cost of Debt = 0.0535 * 2

Pretax Cost of Debt = 5.35% * 2

Pretax Cost of Debt = 10.70%

a recipe serves 8 people, and calls for 5 lbs of apples and 2 cups of flour. you want to prepare it for 24 people. divide 24 by 8 to get 3, and then multiply your ingredients by 3.

so for 24 people, you'll need 15 lbs of apples, and 6 cups of flour.

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