Jorge Corporation issued $ 100,000 par value, 6%, four- year bonds ( i. e., there were 100

Question:

Jorge issued $ 100,000 6%, four- year bonds ( i. e., there were 100 $ 1,000 bonds in the issue). Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period, on July 1. Determine the issue price of the bonds if the market rate of interest is 8%. Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may... Par Value
Par value is the face value of a bond. Par value is important for a bond or fixed-income instrument because it determines its maturity value as well as the dollar value of coupon payments. The market price of a bond may be above or below par,...