ben is saving 1/5 of his weekly pay to buy a car. write and solve an equation to find what weekly and solve an equation to find what weekly pay w results in savings of $61.50.
pls help
Answers
Answer:
.•♫•♬•Answer: X=$307.50 Given: Ben’s savings weekly = $61.50 It is 1/5 or 20% of his weekly savings To find Ben’s weekly pay in $ Let X= Ben’s weekly pay in $ To solve, we use the equation 1/5X=61.50 .20X=61.50 X=61.50/.20 X=$307.50
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Answer:
10.16%
Explanation:
The computation of the cost of preferred stock is shown below:
Cost of preferred stock = Annual coupon ÷ Selling Price of preferred stock per share
= $95 ÷ $935
= 10.16%
The annual coupon would be
= Par value × coupon percent
= $1,000 × 9.5%
= $95
And, the selling price would be
= Par value × selling percent
= $1,000 × 93.5%
= $935
We assume the par value is $1,000
Simply we divide the annual coupon by the selling price of preferred stock per share so that the correct cost of preferred stock can be determined
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