Homework: Time Value of Money Assignment

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Spiller Corporation plans to issue $10\%,9-$year, $$510,000$ par value bonds payable that pay interest semiannually on June $30$ and December $31.$ The bonds are dated January $1$ of the current year and are issued on that date. $($PV of $$1,$ FV of $$1,$ PVA of $$1,$ and FVA of $$1$

$4$ Note: Use appropriate factor$($s$)$ from the tables provided. Round your "Table value" to $4$ decimal places and final answers to points nearest whole dollar.

If the market rate of interest for the bonds is $8\%$ on the date of issue, what will be the total cash proceeds from the bond issue?

$\backslash$table$[[$Table Values are Based on:$,,,],[$Cash Flow,Table Value,Amount,Present Value$],[$Present $($maturity$)$ value,,,$],[$Interest $($annuity$),,,],[$Total cash proceeds,,,$]]$

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