Enviro Company issues 10%, 10-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2.

Confirm that the bonds selling price is approximately correct. Use present value Table B.1 and Table B.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations.)

Required information [The following information applies to the questions displayed below.] Enviro Company issues 10%, 10-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Confirm that the bonds' selling price is approximately correct. Use present value Table B.1 and Table B.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations.) Par Value x Price Selling Price $ 350,000 88 1/2 Cash Flow Table Value Present Value $350,000 par (maturity) value $17,500 interest payment Price of Bond Difference due to rounding of table values 0 Required information [The following information applies to the questions displayed below.] Enviro Company issues 10%, 10-year bonds with a par value of $350,000 and semiannual interest payments. On the issue date, the annual market rate for these bonds is 12%, which implies a selling price of 88 1/2. Confirm that the bonds' selling price is approximately correct. Use present value Table B.1 and Table B.3 in Appendix B. (Round all table values to 4 decimal places, and use the rounded table values in calculations.) Par Value x Price Selling Price $ 350,000 88 1/2 Cash Flow Table Value Present Value $350,000 par (maturity) value $17,500 interest payment Price of Bond Difference due to rounding of table values 0