On January 1, 2024, Bear Cove Co. issued its 11% bonds in the face amount of $3,000, which mature on January 1, 2034. The bonds were issued for $3,385 to yield 9%. Bear Cove uses the effective-interest method of amortizing the bond premium. Interest is payable annually on December 31. The 12/31/24 bond carrying value is approximately:

The bond carrying value is approximately $3,332

Explanation:  

Given that

Year    Int. Expense(A)   Interest pmt(B)  Pre. amortization    Bonds carrying val

          9% of previous      11% of face              B-A                    Issue price - prem

          carrying value            value                                                         Amort

0                     0                           0                         0                         $3,385

1            (0.09×3385)         (0.11×3000)          (330 - 304.65)      (3,385 - 25.35 )

                $304.65               $330.00                $25.35                   $3,359.65

2          (0.09×3,359.65)    (0.11×3000)          (330 - 302.37)   (3,359.65-27.63)

                $302.37               $330.00                $27.63                  $3,332.02

The bond carrying value is approximately $3,332

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

the third answer is correct.