A company issued $8\%,15-$year bonds with a face amount of $$100$ million. The market yield for bonds of similar risk and maturity is $6\%.$

Interest is paid semiannually. At what price did the bonds sell?

Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial

calculator.$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Price of bondsA company issued $8\%,15-$year bonds with a face amount of $$100$ million. The market yield for bonds of similar risk and maturity is $6\%.$

Interest is paid semiannually. At what price did the bonds sell?

Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial

calculator.$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Price of bondsA company issued $8\%,15-$year bonds with a face amount of $$100$ million. The market yield for bonds of similar risk and maturity is $6\%.$

Interest is paid semiannually. At what price did the bonds sell?

Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial

calculator.$($FV of $$1,$ PV of $$1,$ FVA of $$1,$ PVA of $$1,$ FVAD of $$1$ and PVAD of $$1)$

Price of bonds