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3,000,000 25. Assume the following: Face amount of bonds Annual installment on December 31, 2020 And every December 31 thereafter Date of issue Nominal interest
3,000,000 25. Assume the following: Face amount of bonds Annual installment on December 31, 2020 And every December 31 thereafter Date of issue Nominal interest rate payable annually every December 31 Effective interest rate 1,000,000 January 1, 2020 12% 14% Carry PV factors to 3 decimal places or to the nearest thousandth Required: a.) Market price of the bonds on January 1, 2020 b.) Carrying value of the bonds on December 31, 2020 3,000,000 25. Assume the following: Face amount of bonds Annual installment on December 31, 2020 And every December 31 thereafter Date of issue Nominal interest rate payable annually every December 31 Effective interest rate 1,000,000 January 1, 2020 12% 14% Carry PV factors to 3 decimal places or to the nearest thousandth Required: a.) Market price of the bonds on January 1, 2020 b.) Carrying value of the bonds on December 31, 2020
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