Question
58. An investor purchases a 20-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interest is five
58. An investor purchases a 20-year, $1,000 par value bond that pays semiannual interest of $40. If the semiannual market rate of interest is five percent, what is the current market value of the bond?
A.$858
.B. $1,686
.C. $1,000.
D. $893.
PVA of $1: n = 40; i = 5%**PV of $1: n = 40; i = 5%
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Payroll Accounting 2017
Authors: Jeanette Landin, Paulette Schirmer
3rd edition
1259572188, 1259572180, 1259742512, 9781259742514, 978-1259572180
