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Bonds: $3,000,000 Par Value Semiannual Interest Payments There-Year Life Annual Contract Rate:12% Annual Market Rate: 10% What is the price of the bond? What is

Bonds: $3,000,000 Par Value

Semiannual Interest Payments

There-Year Life

Annual Contract Rate:12%

Annual Market Rate: 10%

What is the price of the bond?

What is the amount of the bond premium?

What is the semi-annual cash payment to the bond holder?

What is the total amount of interest expense over the life of the bond?

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