Issue Price The following terms relate to independent bond issues: a. 640 bonds; $1,000 face value; 8% stated rate; 5 years, annual interest payments b. 640 bonds; $1,000 face value; 8% stated rate; 5 years, semiannual interest payments c. 850 bonds; $1,000 face value; 8% stated rate; 10 years; semiannual interest payments d. 2,040 bonds; $500 face value; 12% stated rate; 15 years; semiannual interest payments Use the appropriate present value table: PV of $1 and PV of Annuity of $1 Required: Assuming the market rate of interest is 10%, calculate the selling price for each bond issue. If required, Yound your intermediate calculations and final answers to the nearest dollar Situation Selling Price of the Bond Issue 924.17 X a. b. 922.77 X c. 875.39 X d. 576.88 X 5% 79 94 10% 12 15%. 88900 72242 TABLE 9-2 Present Value of $1 (N) Periods 2% 3% 1 98039 97087 96154 2 96117 94260 92456 3 94232 91514 4 92385 88849 85480 5 90573 36261 82190 6 88797 83748 79031 7 87056 81309 .75992 8 85349 78941 73000 9 83676 76642 70259 10 82035 .74409 67556 11 80426 64958 12 78849 70138 62480 13 77303 68095 60057 14 .75788 66112 57748 15 .74301 64186 55526 16 72845 62317 17 71416 60502 51337 18 70016 58739 49363 19 68643 57029 47464 20 67297 55368 45639 22 64684 52189 42196 24 62172 49198 39012 26 59758 46369 36089 28 57437 43708 33348 30 55207 41199 30832 95238 90708 86384 82270 78353 74622 71068 67684 64461 81391 58468 55684 53032 50507 48102 45811 43630 41552 39573 37689 34186 31007 28124 25509 23138 94340 89000 83962 79200 74725 70496 66506 62741 59190 55839 52679 49697 46884 44230 41727 39365 37138 35034 33051 31180 27751 24698 21981 19583 93458 8734 81630 75290 71299 66634 62275 58201 54390 50835 47509 44401 41496 38782 36245 33873 31657 29586 27651 25842 22571 19715 .17220 15040 13137 92593 85734 79383 73503 58058 63017 58349 54027 50025 48319 42888 39711 38770 34046 31524 29189 27027 25025 23171 21455 18394 15770 .13520 11591 09938 50909 80545 75131 68301 52092 96447 51316 46651 42410 38554 35049 31863 28966 26333 23939 21763 19784 17986 16351 14884 12285 10153 08391 06934 05731 80286 78719 71178 63552 55743 50063 15235 40388 36061 32197 28748 25668 22917 20462 18270 16312 14564 13004 11611 10367 08264 06588 06252 04187 03338 88957 75814 65752 57175 49718 43233 37594 32690 28425 24718 21494 1860 16253 14133 12289 10686 09290 08081 07027 06110 04620 03498 02642 01997 01510 53391 17411 TABLE 9.4 Present Value of Annuity of $1 (NI Periods 3% 4% 5% 6% 7% 10% 12% 15% 3695 1.62571 226323 285438 335216 378448 416042 1 2 3 4 5 6 2 B 9 10 11 12 13 14 15 10 17 18 19 20 22 24 26 28 30 98030 194150 2 38388 3.80773 4.71340 560143 6.47199 732548 B.10224 8 98259 9.78685 10.57534 11 34837 12.1065 12 84906 1357771 1429107 14.99203 15.67846 16.35143 17.65805 18 91393 20.12104 21 28127 2239646 97087 191347 2B2861 3.71710 4.57971 5.41719 623028 701900 778611 8.53020 925262 9.35400 1063496 1120007 1193794 1256110 13 16012 13.75351 14 32380 1437747 15 30882 16.93564 178764 18.76411 19 80014 96154 1.88809 2.77509 3.62900 445182 524214 6.00205 6.73274 743533 811000 8.76018 938507 9.98505 10 56312 11.111030 11 6520 12.16567 12 653030 13.13394 13 59033 1445112 15 24606 1598277 16 66300 17.29203 95238 1 85941 2.72305 354505 432918 5.07509 5.78637 6.46321 7.10732 7.72173 8.30641 83625 939057 989864 10.37300 10 83777 11 27407 11 6060 12 08532 12.46221 13 16300 13 79854 1437519 1413 1537245 94340 183339 257301 346511 421236 491732 5.58238 6.20970 680169 730009 788607 838334 B 35258 9.2000 9.71225 10.10500 1047726 10 12700 11.15812 1146802 12.04158 12.55036 1300317 13 40616 1376483 93458 180802 262432 3.38721 4.10020 4.76654 538109 597130 6.51523 702358 749807 7.94269 835705 8.74547 9.10791 944665 978222 10 05:00 10.33500 10 59401 11 06124 11.46963 11 82578 12.13711 12 40904 0503 1.78320 257710 3.31213 3.99271 462238 520631 5.74654 6.2460 6.71008 7.13890 7.53608 7.00378 8.24424 855048 885132 9.12104 93710 0.00300 981815 10.20074 10 52876 10 30908 11.05108 11.25778 0000 1.73554 2.406BS 3.10987 3.75076 4.35526 46842 533193 5.75002 6.1457 649506 0.81369 710036 730000 76060 782371 8.02155 8.20141 8.36492 8.51356 8.77154 8.9674 0.10095 930657 942091 160005 2.40183 303735 3.60678 4.11141 456396 4.9624 532605 5.65002 5.33770 5.1907 6.42355 6.62817 6.8100 6.970 7.11903 7.24367 736578 746014 7.64665 7.78432 789560 798442 8.05518 4710 501877 52371 50062 55315 57240 52737 56423 601716 6 12797 61023 6. 64037 6.0056 5.5650