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** Also what is supposed to go in the blank box above PMT? On January 1, Borrower, Inc. issued a 10-year semiannual bond with a
** Also what is supposed to go in the blank box above PMT?
On January 1, Borrower, Inc. issued a 10-year semiannual bond with a face value of exist100,000 and a coupon rate of 6%. On the date of issue, the market rate for similar bonds was 8%. Borrower, Inc. would like to know how much this issuance would raise. This is a TVM (time value of money) problem. Complete the TVM data table. Using the TVM variables, what is the equation for the present value? PV = times + times PV = times + times How much does Borrower raise from this issue? You may ignore transaction costsStep by Step Solution
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