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Computing the Issue Price of Bonds (See the Present and Future Value Tables from the Appendix- http://sjc.cengagenow.com/ilrn/books/wefa14h/images/ch11/present_and_future_value_tab.gif )for help in solving this item. Compute the
Computing the Issue Price of Bonds (See the Present and Future Value Tables from the Appendix- http://sjc.cengagenow.com/ilrn/books/wefa14h/images/ch11/present_and_future_value_tab.gif )for help in solving this item. Compute the issue price of each of the following bonds. Round your answers to the nearest dollar.
b. $10,000,000 face value, serial bonds repayable in 40 equal semiannual installments of $500,000, which includes coupon payments and repayment of principal, for 20 years, priced on the market to yield 6% compounded annually.
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