Question
A company issued $1,350,000 worth of 9-year bonds with a 3% interest rate. Interest is to be paid annually. The bond issue date is January
A company issued $1,350,000 worth of 9-year bonds with a 3% interest rate. Interest is to be paid annually. The bond issue date is January 1, 2020 and the company has a year-end of December 31. Calculate the bond issue price under each market interest rate.
Cash interest
at 2%:
at 3%:
at 4%:
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Intermediate Accounting Volume 1
Authors: Kin Lo, George Fisher
4th Edition
013523610X, 9780135236109
