Question
1) A company issued $1,120,000 worth of 7-year bonds with a 2% interest rate. Interest is to be paid annually. The bond issue date is
1) A company issued $1,120,000 worth of 7-year bonds with a 2% interest rate. Interest is to be paid annually. The bond issue date is January 1, 2020 and the company has a year-end of December 31.
Calculate the bond issue price under each market interest rate. Do not enter dollar signs or commas in the input boxes. Round your answers to the nearest whole number. For bond calculations, use the PV tables
| Market Interest Rate | Bond Price |
| 1% | $Answer |
| 2% | $Answer |
| 3% | $Answer |
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Using Financial Accounting Information The Alternative to Debits and Credits
Authors: Gary A. Porter, Curtis L. Norton
7th Edition
978-0-538-4527, 0-538-45274-9, 978-1133161646
