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hi im studying for an exam and the only way i could think about solving this was $5,000,000 x 0.04(percentage) and i got $200,000 witch
hi im studying for an exam and the only way i could think about solving this was $5,000,000 x 0.04(percentage) and i got $200,000 witch was less than $5,000,000 so i got the right answer. im unsure if this is the offical way to solve the problem so any help for how to actually do it or if im right would be helpful.
On Dec. 1 , a company issued $5,000,000 of 4%,10-year bonds. The market interest rate on Dec. 1 was 4.25%. How much cash will the company receive from the bond issue? $5,000,000 More than $5,000,000 Less than $5,000,000 Cannot be determined from the information given Step by Step Solution
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