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A company issued 7%, 10-year bonds with a face amount of $84 million. The market yield for bonds of similar risk and maturity is 8%.
A company issued 7%, 10-year bonds with a face amount of $84 million. The market yield for bonds of similar risk and maturity is 8%. 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 $1andPVAD of $1)(Use appropriate factor(s) from the tables provided.Enter your answers in whole dollars.) |
I just need help finding the interest rate then I think I can find the present value. |
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