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Can you explain to me how my practice exam got these correct answers, I'm having trouble figuring out how they got their answers for Requirements
Can you explain to me how my practice exam got these correct answers, I'm having trouble figuring out how they got their answers for Requirements 2 and 3?
On January 1,2024, Water Manis issues issues \\( \\$ 2,800,000 \\) of \9 bonds, due in 15 years, with interest payabie semiannually on June 30 and December 31 each year. Required: 1. If the market interestrate is \9, the bonds will issue at \\( \\$ 2,800.000 \\). Record the bond issue an January 1, 2024, and the first two semiannuat interest payments on June 30, 2024, and December 34, 2024. 2. If the market siterest rate is \10, the bonds wall issue at \\( \\$ 2,584,786 \\). Record the bond issue on January 1,2024 , and the first two semiannual interest parments on June 30, 2024, and December 31, 2024. 3 , If the market interest rate is \8, the bonds will issue at \\( \\$ 3,042,088 \\). Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and Decomber 31, 2024. Complete this question by entering vour answers in the tabs below. U. the market interest rate is 9 , the bonds wal issue at \\( 32,800,000 \\). Rocord the bond issue on January 1, 2024, and the first tho semianmial interest pavinents on June 30,2024 , and December 31, 2024. (If no entiv is required for a particular Complete this question by entering your answers in the tabs below. If the market interest rate is \10, the bonds will issue at \\( \\$ 2,584,786 \\). Record the bond issue on January 1, 2024, and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select \"No Journal Entry Required\" In the first account field. Round your answers to the nearest dollar amount.) 3. If the market interest rate is \8, the bonds will issue at \\( \\$ 3,042,088 \\). Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30,2024 , and December 31,2024 . Complete this question by entering your answers in the tabs below. If the market interest rate is \8, the bonds will issue at \\( \\$ 3,042,088 \\). Record the bond issue on January 1,2024 , and the first two semiannual interest payments on June 30, 2024, and December 31, 2024. (If no entry is required for a particular transaction/event, select \"No Journal Entry Required\" in the first account field. Round your answers to the nearest dollar amount.) Step by Step Solution
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