3,23

Issue Price The following terms relate to independent bond issues: a. 670 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments b. 670 bonds; $1,000 face value; 8% stated rate; 5 years; semiannual interest payments c. 800 bonds; $1,000 face value; 8% stated rate; 10 years; semiannual interest payments d. 1,870 bonds; $500 face value; 12% stated rate; 15 years; semiannual interest payments Use the appropriate present value table: PV of $1 and PV of Annuity of $1