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A company issued 6%, 15-year bonds with a face amount of $75 million. The market yield for bonds of similar risk and maturity is 6%.
A company issued 6%, 15-year bonds with a face amount of $75 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell? (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided. Enter your answers in whole dollars. Round final answers to nearest whole dollar.) > Answer is complete but not entirely correct. Table values are based on: n = = 30 3.0% Cash Flow Amount Present Value Interest $ 2 $ 44 Principal $ 75 x 31 X Price of bonds $ 75
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