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A company issued 9%, 15-year bonds with a face amount of $82 million. The market yield for bonds of similar risk and maturity is 9%.
A company issued 9%, 15-year bonds with a face amount of $82 million. The market yield for bonds of similar risk and maturity is 9%. 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 the nearest whole dollar.) Table values are based on: n = 1= Amount Present Value Cash Flow Interest Principal Price of bonds
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