Question
A Company issued $1,000,000 worth of 4 year bonds offering 4% in semi-annual interest payments. On the day the bonds were sold, the market rate
A Company issued $1,000,000 worth of 4 year bonds offering 4% in semi-annual interest payments. On the day the bonds were sold, the market rate of interest was 4.5%. How much cash did the Company collect on the date of issue?
A. $1,018,314
B. $910,312
C. $981,882
D. $982,062
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Corporate Responsibility
Authors: Tom Cannon
2nd Edition
0273738739, 9780273738732
