2.

Scottie Adams Bird Supplies issued 14% bonds, dated January 1, with a face amount of $140,000 on January 1, 2021. The bonds mature in 2031 (10 years). For bonds of similar risk and maturity the market yield is 12%. Interest is paid semiannually on June 30 and December 31. What is the price of the bonds at January 1, 2021? Some relevant and irrelevant present value factors: * PV of annuity due of $1: n = 20; i = 6% is 12.15812 * PV of ordinary annuity of $1: n = 20; i = 6% is 11.46992 **PV of $1: n = 20; i = 6% is 0.31180

3. Mountain Excursions issues bonds due in 10 years with a stated interest rate of 8% and a face value of $100,000. Interest payments are made semi-annually. The market rate for this type of bond is 9%. Using a financial calculator or Excel, calculate the issue price of the bonds.

4.Hillside Excursions issues bonds due in 12 years with a stated interest rate of 13% and a face value of $100,000. Interest payments are made semi-annually. The market rate for this type of bond is 10%. Using a financial calculator or Excel, calculate the issue price of the bonds.

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Item 5

Item 5

Roman Destinations issues bonds due in 12 years with a stated interest rate of 5% and a face value of $470,000. Interest payments are made semi-annually. The market rate for this type of bond is 4%. Using present value tables, calculate the issue price of the bonds. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)