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Compute the selling price of 7.00%, 15-year bonds with a par value of $480,000 and semiannual interest payments. The annual market rate for these
Compute the selling price of 7.00%, 15-year bonds with a par value of $480,000 and semiannual interest payments. The annual market rate for these bonds is 6.00%. Use present value Table B.1 and Table 8.3 in Appendix B. Note: Round all table values to 4 decimal places, and use the rounded table values in calculations. Round your other final answers to nearest whole dollar amount. Cash Flow $480,000 par (maturity) value $16,800 interest payment Price of Bond Table Value Present Value
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