Interest rates determine the present value of future amounts. (Round to the nearest dollar.) (Click the icon to view Present Value of $1 table.) (Click the icon to view Present Value of Ordinary Annuity of $1 table.) (Click the icon to view Future Value of $1 table.) (Click the icon to view Future Value of Ordinary Annuity of $1 table.) Read the requirements Requirement 1. Determine the present value of six-year bonds payable with face value of $93,000 and stated interest rate of 12%, paid semiannually. The market rate of interest is 12% at issuance. (Round intermediary calculations and final answer to the nearest whole dollar.) Present Value When market rate of interest is 12% annually Reference Future Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 1 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 1.000 2 2.010 2.020 2.030 2.040 2.050 2.060 2.070 2.080 2.090 2.100 2.120 2.140 2.150 3.473 3.030 3.060 3.091 3.122 3.153 3.184 3.215 3.246 3.278 3.310 3.374 3.440 4 4.060 4.122 4.184 4.246 4.310 4.375 4.440 4.506 4.573 4.641 4.779 4.921 4.993 5.526 5.751 6.105 6.742 5.101 5.204 5.309 5.416 5.637 5.867 5.985 6.353 6.610 6.468 7.662 7.336 8.923 7.523 9.200 6.152 6.308 6.633 6.802 7.153 7.716 8.115 8.536 6 6.975 8.754 7 7.214 7.898 8.394 8.654 9.487 10.09 10.73 11.07 7.434 8.142 8.286 8.583 8.892 9.214 9.549 9.897 10.260 10.64 11.03 11.44 12.30 13.23 13.73 9 9.369 9.755 10.16 10.58 11.03 11.49 11.98 12.49 13.02 13.58 14.78 16.09 16.79 10 10.46 10.95 11.46 12.01 12.58 13.18 13.82 14.49 15.19 15.94 17.55 19.34 20.30 11 11.57 12.17 12.81 13.49 14.21 14.97 15.78 16.65 17.56 18.53 20.65 23.04 24.35 12 12.68 13.41 14.19 15.03 15.92 16.87 17.89 18.98 20.14 21.38 24.13 27.27 29.00 13 13.81 14.68 15.62 16.63 17.71 18.88 20.14 21.50 22.95 24.52 28.03 32.09 34.35 14 14.95 15.97 17.09 18.29 19.60 21.02 22.55 24.21 26.02 27.98 32.39 37.58 40.50 15 16.10 17.29 18.60 20.02 21.58 23.28 25.13 27.15 29.36 31.77 37.28 43.84 47.58 16 17.26 18.64 20.16 21.82 23.66 25.67 27.89 30.32 33.00 35.95 42.75 50.98 55.72 17 18.43 20.01 21.76 23.70 25.84 28.21 30.84 33.75 36.97 40.54 48.88 59.12 65.08 19.61 21.41 23.41 25.65 28.13 30.91 34.00 37.45 41.30 45.60 68.39 75.84 18 55.75 19 20.81 22.84 25.12 27.67 30.54 33.76 37.38 41.45 46.02 51.16 63.44 78.97 91.02 88.21 102.4 20 22.02 24.30 26.87 29.78 33.07 36.79 41.00 45.76 51.16 57.28 72.05 56.76 21 23.24 25.78 28.68 31.97 35.72 39.99 44.87 50.42 64.00 81.70 104.8 118.8 Done Print Reference Present Value of Ordinary Annuity of $1 Periods 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 18% 20% 0.990 0.952 0.893 0.917 0.980 0.971 0.962 0.943 0.926 0.877 0.862 0.833 1 0.935 0.909 0.870 0.847 1.970 1.942 1.913 1.886 1.859 1.833 1.808 1.783 1.759 1.736 1.690 1.647 1.626 1.605 1,566 1.528 2.884 3.808 2.531 2.106 2.941 2.829 2.723 2.673 2.624 2.577 2.487 2.402 2.322 2.283 2.246 2.174 2.775 3.630 3.902 3.717 3.546 3.465 3.387 3.312 3.240 3.170 3.037 2.914 2.855 2.798 2.690 2.589 3.791 2.991 4.853 4.580 4.329 4.212 3.352 5 4.713 4.452 4.100 3.993 3.890 3.605 3.433 3.274 3.127 5.795 5.242 5.076 4.917 4.767 4.623 4.355 4.111 3.889 3.784 3.685 3.498 3.326 5.601 5.417 4.486 6.230 6.728 6.472 6.002 5.786 4.868 4.288 4.160 4.039 3.812 3.605 7 5.582 5.389 5.206 5.033 4.564 6.733 6.210 5.335 4.344 8 7.652 7.325 7.020 6.463 5.971 5.747 5.535 4.968 4.639 4.487 4.078 3.837 7.435 4.607 4.031 9 8.566 8.162 7.786 7.108 6.802 6.515 6.247 5.995 5.759 5.328 4.946 4.772 4.303 8.111 10 9.471 8.983 8.530 7.722 7.360 7.024 6.710 6.418 6.145 5.650 5.216 5.019 4.833 4.494 4.192 10.368 9.787 11.255 10.575 12.134 11.348 10.635 9.986 13.004 12.106 11.296 10.563 9.899 13.865 12.849 11.938 11.118 10.380 9.712 11 9.253 8.760 8.306 7.887 7.499 7.139 6.805 6.495 5.938 5.453 5.234 5.029 4.656 4.327 12 9.954 9.385 8.863 8.384 7.943 7.536 7.161 6.814 6.194 5.660 5.421 5.197 4.793 4.439 13 9.394 8.853 8.358 7.904 7.103 6.424 5.842 5.342 4.910 4.533 7.487 5.583 14 9.295 8.745 8.244 7.786 7.367 6.628 6.002 5.724 5.468 5.008 4.611 15 9.108 8.061 6.811 5.575 4.675 8.559 7.606 6.142 5.847 5.092 14.718 13.578 12.561 11.652 10.838 10.106 9.447 15.562 14.292 13.166 12.166 11.274 10.477 9.763 16 8.851 8.313 7.824 6.974 6.265 5.954 5.669 5.162 4.730 17 9.122 8.544 8.022 7.120 6.373 6.047 5.749 5.222 4.775 14.992 13.75412.659 11.690 10.828 10.059 16.398 17.226 15.67814.324 13.134 12.085 11.158 10.336 18.046 16.351 14.877 13.590 12.462 11.470 10.594 18 9.372 8.756 8.201 7.250 6,467 6.128 5.818 5.273 4.812 19 9.604 8.950 8.365 7.366 6.550 6.198 5.877 5.316 4.844 20 9.818 9.129 8.514 7.469 6.623 6.259 5.929 5.353 4.870 18.857 17.011 15.415 14.029 12.821 11.764 10.836 10.017 7.562 5.973 8.649 6.687 21 9.292 6.312 5.384 4.891 Print Done I Reference Future Value of $1 6% 9% Periods 1% 2% 3% 4% 5% 7% 8% 10% 12% 14% 15% 1 1.010 1.020 1.030 1.040 1.050 1.060 1.070 1.080 1.090 1.100 1.120 1.140 1.150 2 1.020 1.040 1.061 1.082 1.103 1.124 1.145 1.166 1.188 1.210 1.254 1.300 1.323 1.030 1.061 1.093 1.125 1.158 1.191 1.225 1.260 1.295 1.331 1.405 1.482 1.521 1.082 1.126 1.170 1.216 1.262 1.311 1.360 1.412 1.464 1.574 1.689 1.749 1.041 1.925 1.403 1.051 1.104 1.159 1.217 1.276 1.338 1.469 1.539 1.611 1.762 2.011 1.974 2.211 1.062 1.194 1.340 1.419 1.501 1.587 2.313 6 1.126 1.265 1.677 1.772 2.195 1.230 1.316 1.407 1.504 7 1.072 1.149 1.606 1.714 1.828 1.949 2.502 2.660 8 1.083 1.172 1.267 1.369 1.477 1.594 1.718 1.851 1.993 2.144 2.476 2.853 3.059 1.094 1.195 1.305 1.423 1.551 1.689 1.838 1.999 2.159 2.172 2.358 2.773 3.106 3.252 3.518 10 1.105 1.219 1.344 1.480 1.629 1.791 1.967 2.367 2.594 3.707 4.046 2.332 2.580 11 1.116 1.243 1.384 1.539 1.710 1.898 2.105 2.853 3.479 4.226 4.652 12 1.127 1.268 1.426 1.601 1.796 2.012 2.252 2.410 2.518 2.813 3.138 3.896 4.818 5.350 1.886 2.133 4.363 13 1.138 1.294 1.469 1.665 2.720 3.066 3.452 5.492 6.153 14 1.149 1.319 1.513 1.732 1.980 2.261 2.579 2.937 3.342 3.798 4.887 6.261 7.076 3.172 5.474 15 1.161 1.346 1.558 1.801 2.079 2.397 2.759 3.642 4.177 7.138 8.137 3.426 16 1.173 1.373 1.605 1.873 2.183 2.540 2.952 3.970 4.595 6.130 8.137 9.358 2.292 2.407 1.653 1.948 2.026 17 1.184 1.400 2.693 3.159 3.700 4.328 5.054 6.866 9.276 10.76 1.196 1.428 3.380 12.38 18 1.702 2.854 3.996 4.717 5.560 7.690 10.58 19 1.208 1.457 1.754 2.107 2.527 3.026 3.617 4.316 5.142 6.116 8.613 12.06 14.23 20 1.220 1.486 1.806 2.191 2.653 3.207 3.870 4.661 5.604 6.727 9.646 13.74 16.37 21 1.232 1.516 1.860 2.279 2.786 3.400 4.141 5.034 6.109 7.400 10.80 15.67 18.82 Print Done Reference Present Value of $1 Periods 18% 1% 2% 3% 4% 5% 6% 7% 8% 9% 10% 12% 14% 15% 16% 20% 0.980 0.961 1 0.990 0.971 0.962 0.952 0.943 0.935 0.926 0.917 0.909 0.893 0.877 0.870 0.862 0.847 0.833 2 0.980 0.943 0.925 0.907 0.890 0.873 0.857 0.842 0.826 O.797 0.769 0.756 0.743 0.718 0.694 0.864 0.823 3 0.971 0.942 0.915 0.888 0.889 0.840 0.816 0.794 0.772 0.751 0.712 0.675 0.658 0.572 0.641 0.609 0.579 0.482 0.708 0.650 0.855 0.763 0.636 0.592 0.552 0.961 0.924 0.792 0.735 0.683 0.516 0.951 0.906 0.863 0.822 0.784 0.747 0.713 0.681 0.621 0.567 0.519 0.497 0.476 0.437 0.402 0.888 0.630 0.596 0.942 O.790 0.705 0.564 0.507 0.432 0.410 0.335 6 0.837 0.746 0.666 0.456 0.370 7 0.933 0.871 0.813 0.760 0.711 0.665 0.623 0.583 0.547 0.513 0.452 0.400 0.376 0.354 0.314 0.279 0.627 8 0.923 0.853 0.789 0.731 0.677 0.582 0.540 0.502 0.467 0.404 0.351 0.327 0.305 0.266 0.233 0.703 0.500 0.225 9 0.914 0.837 0.766 0.645 0.592 0.544 0.460 0.424 0.361 0.308 0.284 0.263 0.194 10 0.905 0.820 0.744 0.676 0.614 0.558 0.508 0.463 0.422 0.386 0.322 0.270 0.247 0.227 0.191 0.162 0.722 0.701 11 0.896 0.804 0.650 0.585 0.527 0.475 0.429 0.388 0.350 0.319 0.287 0.237 0.215 0.195 0.162 0.135 0.112 0.625 0.444 12 0.887 0.788 0.557 0.497 0.397 0.356 0.257 0.208 0.187 0.168 0.137 13 0.879 0.773 0.681 0.601 0.530 0.469 0.415 0.368 0.326 0.290 0.229 0.182 0.163 0.145 0.116 0.093 0.577 0.078 14 0.870 0.758 0.661 0.505 0.442 0.388 0.340 0.299 0.263 0.205 0.160 0.141 0.125 0.099 0.743 0.555 0.315 0.065 15 0.861 0.642 0.481 0.417 0.362 0.275 0.239 0.183 0.140 0.123 0.108 0.084 0.458 0.436 0.728 0.714 0.218 0.123 0.534 0.394 0.339 0.317 0.296 0.163 0.093 0.853 0.623 0.292 0.252 0.107 0.071 0.054 17 0.844 0.605 0.513 0.371 0.270 0.231 0.198 0.146 0.108 0.093 0.080 0.060 0.045 0.836 0.494 0.416 0.250 0.212 0.130 18 0.700 0.587 0.350 0.180 0.095 0.081 0,069 0.051 0.038 19 0.828 0.686 0.570 0.475 0.396 0.331 0.277 0.232 0.194 0.164 0.116 0.083 0.070 0.060 0.043 0.031 0.178 0.104 0.073 20 0.820 0.673 0.554 0.456 0.377 0.312 0.258 0.215 0.149 0.061 0.051 0.037 0.026 21 0.811 0.660 0.538 0.439 0.359 0.294 0.242 0.199 0.164 0.135 0.093 0.064 0.053 0.044 0.031 0.022 Print Done