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Cullumber Corporation is about to issue $1,120,000 of 9-year bonds that pay a 5% annual interest rate, with interest payable semi- annually. The market interest
Cullumber Corporation is about to issue $1,120,000 of 9-year bonds that pay a 5% annual interest rate, with interest payable semi- annually. The market interest rate is 6%. Assuming all bonds are issued, how much can Cullumber expect to receive for the sale of these bonds? (b) Fill in the remaining variables in the table that follows. (Round rate to 1 decimal place, e.g. 25.5%.) Variable Present value Future value Financial Calculator or Tables Excel PV PV FV FV ? Rate % Interest rate Amount of annuity payment PMT PMT Number of periods N Nper
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