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42,000 bonds; $1,000 face value; 11% stated rate; 5 years; semi-annual interest payments. Determine the price of bonds, assuming market interest rate is 9%. (Present
42,000 bonds; $1,000 face value; 11% stated rate; 5 years; semi-annual interest payments. Determine the price of bonds, assuming market interest rate is 9%. (Present value factors should be rounded off to nearest 5 decimal places and the final answer should be rounded off to nearest whole dollar) Answer Choices: a. $46,282,152 b. $45,323,443 c. $41,999,985 d. $43,462,429
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