Question
Chinook Inc. has available for issue a $3,220,000 bond due in eight years. Interest at the rate of 8.00% is to be paid semiannually. Calculate
Chinook Inc. has available for issue a $3,220,000 bond due in eight years. Interest at the rate of 8.00% is to be paid semiannually. Calculate the issue price if the market interest rate is: (Do not round intermediate calculations. Round the final answers to the nearest whole dollar.)
| Market Interest Rate | Issue Price | |
| a) | 7.5 | |
| b) | 8.00 | |
| c) | 8.75 |
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Principles Of Financial And Managerial Accounting Volume 2
Authors: Thomas D Hubbard
3rd Edition
0873934911, 978-0873934916
