Question
20- Sand Explorers issues bonds due in 10 years with a stated interest rate of 7% and a face value of $180,000. Interest payments are
20- Sand Explorers issues bonds due in 10 years with a stated interest rate of 7% and a face value of $180,000. Interest payments are made semi-annually. The market rate for this type of bond is 6%. 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.)
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$146,880.
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$193,390.
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$180,000.
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$224,149.
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Corporate Financial Reporting In A Competitive Economy (RLE Accounting)
Authors: Herman W. Bevis
1st Edition
1138966819, 9781138966819
