Question
ABC Corp purchased 15, $1,000, 6% bonds of DEC Corporation when the market rate of interest was 12%. Interest is paid semiannually on the bonds,
ABC Corp purchased 15, $1,000, 6% bonds of DEC Corporation when the market rate of interest was 12%. Interest is paid semiannually on the bonds, and the bonds will mature in fives years. Using the PV function in Excel, computer the price that ABC Corp paid (the present value) on the bond investment.
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
17th edition
978-0273778172, 027377817X, 978-1292080505
