L M N 0 P Q Q R S periods 9.00% 1.09000 1.18810 1.29503 1.41158 1.53862 1.30226 1.67710 1.82804 1.99256 2.17189 B D E F G H I 1 TABLE 1 Future Value of $1 2 3 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 5.50% 4 1 1.01000 1.01500 1.02000 1.02500 1.03000 1.03500 1.04000 1.04500 1.05000 1.05500 5 2 1.02010 1.03023 1.04040 1.05063 1.06090 1.07123 1.08160 1.09203 1.10250 1.11303 6 3 1.03030 1.04568 1.06121 1.07689 1.09273 1.10872 1.12486 1.14117 1.15763 1.17424 74 1.04060 1.06136 1.08243 1.10381 1.12551 1.14752 1.16986 1.19252 1.21551 1.23882 B 5 1.05101 1.07728 1.10408 1.13141 1.15927 1.18769 1.21665 1.24618 1.27628 1.30696 96 1.06152 1.09344 1.12616 1.15959 1.19405 1.22926 1.26532 1.34010 1.37884 107 1.07214 1.10984 1.14869 1.18869 1.22987 1.27228 1.31593 1.36086 1.40710 1.45468 11 8 1.08286 1.12649 1.17166 1.21840 1.26677 131681 1.36857 1.42210 1.47746 1.53469 12 9 1.09369 1.14339 1.19509 1.24886 1.30477 1.36290 1.42331 1.48610 1.55133 1.61909 13 10 1.10462 1.16054 1.21899 1.28008 1.34392 1.41050 1.48024 1.55297 1.62889 1.70814 14 11 1.11567 1.17795 1.24337 1.31209 1.38423 1.45997 1.53945 1.62285 1.71034 1.80209 15 12 1.12683 1.19562 1.26824 1.34489 1.42576 1.51107 1.60103 1.69588 1.79586 1.90121 16 13 1.13809 1.21355 1.29361 1.37851 1.46853 1.56395 1.66507 1.77220 1.88565 2.00577 17 14 1.14947 1.23176 1.31948 1.41297 1.51259 1.61869 1.73168 1.85194 1.97993 2.11609 18 15 1.16097 1.2502 1.34587 1.44830 1.55797 1.67535 1.80094 1.93528 2.07893 2.23248 1916 1.17258 1.26899 1.37279 1.48451 1.60471 1.73399 1.87298 2.02237 2.18287 2.35526 20 17 1.18430 1.28802 1.40024 1.52162 1.65285 1.79468 1.94790 2.11338 2.29202 2.48480 21 18 1.19615 1.30734 1.42825 1.55956 1.70243 1.85749 2.02582 2.20848 2.40662 2.62147 22 19 1.20811 1.32695 1.45681 1.59865 1.75351 1.92250 2.10685 2.30786 2.52695 2.76565 23 20 1.22019 1.34686 1.48595 1.63862 1.80611 1.98979 2.19112 2.41171 2.65330 2.91776 24 21 1.23239 1.36706 1.51567 1.67958 1.86029 2.05943 2.27877 2.52024 2.78596 3.07823 25 25 1.28243 1.45095 1.64061 1.85394 2.09378 2.36324 2.66584 3.00543 3.38635 3.81339 26 30 1.34785 1.56308 1.81136 2.09757 2.42726 2.80679 3.24340 3.74532 4.32194 4.98395 27 40 1.48886 1.81402 2.20804 2.68506 3.26204 3.95926 4.80102 5.81636 7.03999 8.51331 28 29 30 31 Students. The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work 32 Nothing in this area will be graded, but it will be submitted with your assignment. 33 34 35 36 37 38 6.00% 1.06000 1.12360 1.19102 1.26248 1.33822 1.41852 1.50363 1.59385 1.68948 1.79085 1.89830 2.01220 2.13293 2.26090 2.39656 2.54035 2.69277 2.85434 3.02560 3.20714 3.39956 4.29187 5.74349 10.28572 7.00% 1.07000 1.14490 1.22504 1.31080 1.40255 1.50073 1.60578 1.71819 1.83846 1.96715 2.10485 2.25219 2.40985 2.57853 2.75903 295216 3.15882 3.37993 3.61653 3.86968 4.14056 5.42743 7.6122 14.97446 8.00% 1.08000 1.16640 1.25971 1.36049 1.46933 1.58687 1.71382 1.85093 1.99900 2.15892 2.33164 2.51817 2.71962 2.93719 3.17217 3.42594 3.70002 3.99602 4.31570 4.66096 5.03383 6.84848 10.06256 21.72452 2.36736 2.58043 2.81266 3.06580 3.34173 3.64248 3.97031 4.32763 4.71712 5.14166 5.60441 6.10881 8.62308 13.26768 31.40942 10.00% 1.10000 1.21000 1.33100 1.46410 1.61051 1.77156 1.94872 2.14359 2.35795 2.59374 2.85312 3.13843 3.45227 3.79750 4.17725 4.59497 5.05447 5.55992 6.11591 6.72750 7.40025 10.83471 17.44940 45.25926 11.00% 12.00% 20.00% 1.11000 1.12000 1.20000 1.23210 1.25440 1.44000 1.36763 1.40493 1.728001 1.51807 1.57352 2.073601 1.68506 1.76234 2.48832 1.87041 1.97382 2.985981 2.07616 2.21068 3.58318 2.30454 2.47596 4.29982 2.55804 2.77308 5.15978 2.83942 3.10585 6.19174 3.15176 3.47855 7.43008 3.49845 3.89598 8.916101 3.88328 4.36349 10.699321 4.31044 4.88711 12.83918 4.78459 5.47357 15.40702 5.31089 6.13039 18.488431 5.89509 6.86604 22.18611 6.54355 7.68997 26.62333 7.26334 8.61276 31.94800 8.06231 9.64629 38.33760 8.94917 10.80385 46.00512 13.58546 17.00006 95.39622 22.89230 29.95992 237.37631 65.00087 93.05097 1469.77157 Future Value of $1 A Present Value of $1 Future Value of Annuity of $1 & Present Value of Annuity of $1 B Graded Worksheet + K L M N N 0 o P Q R R S S 7.00% 0.93458 0.87344 0.81630 12.00% 0.89286 0.79719 0.71178 0.63552 0.56743 0.50663 0.90595 0.76290 0.71299 0.56634 0.62275 0.58201 0.54393 0.45235 0.78120 0.61391 0.50835 B D E F G G H 1 1 TABLE 2 Present Value of $1 2 3 periods 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 4 1 0.99010 0.98522 0.98039 0.97561 0.97087 0.96618 0.96154 0.95694 0.95238 5 2 0.98030 0.97056 0.96117 0.95181 0.94250 0.93351 0.92456 0.91573 0.90703 6 6 3 0.97059 0.95632 0.94232 0.92860 0.91514 0.90194 0.88900 0.87630 0.86384 7 7 4 0.96098 0.94218 0.92385 0.88849 0.87144 0.85480 0.83856 0.82270 B 5 0.95147 0.92826 0.90573 0.88385 0.86261 0.84197 0.82193 0.80245 0.78353 96 0.94205 0.91454 0.88797 0.86230 0.83748 0.81350 0.79031 0.76790 0.74622 10 7 0.93272 0.90103 0.87056 0.84127 0.81309 0.78599 0.75992 0.73483 0.71068 11 8 0.92348 0.88771 0.85349 0.82075 0.78941 0.75941 0.73069 0.70319 0.67684 129 0.91434 0.87459 0.83676 0.80073 0.76642 0.73373 0.70259 0.67290 0.64461 13 10 0.90529 0.86167 0.82035 0.74409 0.70892 0.67556 0.64393 14 11 0.89632 0.84893 0.80426 0.76214 0.72242 0.68495 0.64958 0.61620 0.58468 15 12 0.88745 0.83639 0.78849 0.74356 0.70138 0.66178 0.62460 0.58966 0.55684 16 13 0.87866 0.82403 0.77303 0.72542 0.68095 0.63940 0.60057 0.56427 0.53032 17 14 0.86996 0.81185 0.75788 0.70773 0.66112 0.61778 0.57748 0.53997 0.50507 18 15 0.86135 0.79985 0.74301 0.69047 0.64186 0.59689 0.55526 0.51672 0.48102 19 16 0.85282 0.78803 0.72845 0.67362 0.62317 0.57671 0.53391 0.49447 0.45811 2017 0.84438 0.77639 0.71416 0.65720 0.60502 0.55720 0.51337 0.47318 0.43630 21 18 0.83602 0.76491 0.70016 0.64117 0.58739 0.53836 0.49363 0.45280 0.41552 22 19 0.82774 0.75361 0.68643 0.62553 0.57029 0.52016 0.47464 0.43330 0.39573 23 20 0.81954 0.74247 0.67297 0.61027 0.55368 0.50257 0.45639 0.41464 0.37689 24 21 0.81143 0.73150 0.65978 0.59539 0.53755 0.48552 0.43883 0.39679 0.35894 25 25 0.77977 0.68921 0.60953 0.53939 0.47761 0.42315 0.37512 0.33273 0.29530 26 30 0.74192 0.63976 0.55207 0.47674 0.41199 0.35628 0.30832 0.26700 0.23138 27 40 0.67165 0.55126 0.45289 0.37243 0.30656 0.25252 0.20829 0.17193 0.14205 28 29 30 31 Students. The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work. 32 Nothing in this area will be graded, but it will be submitted with your assignment. 33 34 35 36 37 5.50% 0.94787 0.89845 0.85161 0.80722 0.76513 0.72525 0.68744 0.65160 0.61763 0.58543 0.55491 0.52598 0.49856 0.47257 0.44793 0.42458 0.40245 0.38147 0.36158 0.34273 0.32486 0.26223 0.20064 0.11746 6.00% 0.94340 0.89000 0.83952 0.79209 0.74726 0.70496 0.66506 0.62741 0.59190 0.55839 0.52679 0.49697 0.46884 0.44230 0.41727 0.39365 0.37136 0.35034 0.33051 0.31180 0.29416 0.23300 0.17411 0.09722 0.47509 0.44401 0.41496 0.38782 0.36245 0.33873 0.31657 0.29586 0.27651 0.25842 0.24151 0.18425 0.13137 0.06678 8.00% 0.92593 0.85734 0.79383 0.73503 0.68058 0.63017 0.58349 0.54027 0.50025 0.46319 0.42888 0.39711 0.36770 0.34046 0.31524 0.29189 0.27027 0.25025 0.23171 0.21455 0.19866 0.14602 0.09938 0.04603 9.00% 0.91743 0.84168 0.77218 0.70843 0.64993 0.59622 0.54703 0.50187 0.46043 0.42241 0.38753 0.35553 0.32618 0.29925 0.27454 0.25187 0.23107 0.21199 0.19449 0.17843 0.16370 0.11597 0.07537 0.03184 10.00% 0.90909 0.82645 0.75131 0.68301 0.62092 0.56447 0.51316 0.46651 0.42410 0.38554 0.35049 0.31863 0.28966 0.26333 0.23939 0.21763 0.19784 0.17986 0.16351 0.14864 0.13513 0.09230 0.05731 0.02209 11.00% 0.90090 0.81162 0.73119 0.65873 0.59345 0.53464 0.48166 0.43393 0.39092 0.35218 0.31728 0.28584 0.25751 0.23199 0.20900 0.18829 0.16963 0.15282 0.13768 0.12403 0.11174 0.07361 0.04368 0.01538 0.40388 0.36061 0.32197 0.28748 0.25668 0.22917 0.20462 0.18270 0.16312 0.14564 0.13004 0.11611 0.10367 0.09256 0.05882 0.03338 0.01075 20.00% 0.83333 0.69444 0.57870 0.48225 0.40188 0.33490 0.27908 0.23257 0.19381 0.16151 0.13459 0.11216 0.09346 0.07789 0.06491 0.05409 0.04507 0.03756 0.03130 0.02608 0.02174 0.01048 0.00421 0.00068 38 = = A Future Value of $1 A Present Value of $1 Present Value of $1 Future Value of Annuity of $1 Future Value of Annuity of $1 & Present Value of Annuity of $1 A Graded Worksheet + K L M N N 0 P Q R S T B D E F F G H H I ] 1 TABLE 3 Future Value of an Ordinary Annuity of $1 2 3 Periods 1.00% 1.50% 2.00% 2.50% 3.00% 3.50% 4.00% 4.50% 5.00% 4 1 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 5 2 2.0100 2.0150 2.0200 2.0250 2.0300 2.0350 2.0400 2.0450 2.0500 6 3 3.0301 3.0452 3.0604 3.0756 3.0909 3.1062 3.1216 3.1370 3.1525 7 4 4.0604 4.0909 4.1216 4.1525 4.1836 4.2149 4.2465 4.2782 4.3101 8 5 5.1010 5.1523 5.2040 5.2563 5.3091 5.3625 5.4163 5.4707 5.5256 9 6 6.1520 6.2296 6.3081 6.3877 6.4684 6.5502 6.6330 6.7169 6.8019 10 7 7.2135 7.3230 7.4343 7.5474 7.6625 7.7794 7.8983 8.0192 8.1420 11 8 8 8.2857 8.4328 8.5830 8.7361 8.8923 9.0517 9.2142 9.3800 9.5491 129 9 9.3685 9.5593 9.7546 9.9545 10.1591 10.3685 10.5828 10.8021 11.0266 13 10 10.4622 10.7027 10.9497 11.2034 11.4639 11.7314 12.0061 12.2882 12.5779 14 11 11.5668 11.8633 12.1687 12.4835 12.8078 13.1420 13.4864 13.8412 14.2068 15 12 12.6825 13.0412 13.4121 13.7956 14.1920 14.6020 15.0258 15.4640 15.9171 16 13 13.8093 14.2368 14.6803 15.1404 15.6178 16.1130 16.6268 17.1599 17.7130 17 14 14.9474 15.4504 15.9739 16.5190 17.0863 17.6770 18.2919 18.9321 19.5986 18 15 16.0969 16.6821 17.2934 17.9319 18.5989 19.2957 20.0236 20.7841 21.5786 19 16 17.2579 17.9324 18.6393 19.3802 20.1569 20.9710 21.8245 22.7193 23.6525 2017 18.4304 19.2014 20.0121 20.8647 21.7616 22.7050 23.6975 24.7417 25.8404 21 18 19.6147 20.4894 21.4123 22.3863 23.4144 24.4997 25.6454 26.8551 28.1324 22 19 20.8109 21.7967 22.8406 23.9460 25.1169 26.3572 27.6712 29.0636 30.5390 23 20 22.0190 23.1237 24.2974 25.5447 26.8704 28.2797 29.7781 31.3714 33.0660 24 21 23.2392 24.4705 25.7833 27.1833 28.6765 30.2695 31.9692 33.7831 35.7193 25 25 28.2432 30.0630 32.0303 34.1578 36.4593 38.9499 41.6459 44.5652 47.7221 26 30 34.7849 37.5387 40.5681 43.9027 47.5754 51.6227 56.0849 61.0071 66.4388 27 40 48.8864 54.2679 60.4020 67.4026 75.4013 84 S503 95.0255 107.0303 120.7998 28 29 30 31 Students. The scratchpad area is for you to do any additional work you need to solve this question or can be used to show your work 32 Nothing in this area will be graded, but it will be submitted with your assignment. 33 34 35 36 37 38 > = Future Value of $1 Present Value of $1 Future Value of Annuity of $1 & Present Value of Annuity of $1 5.50% 1.0000 2.0550 3.1680 4.3423 5.5811 6.8881 8.2669 9.7216 11.2563 12.8754 14.5835 16.3856 18.2868 20.2926 22.4087 24.6411 26.9964 29.4812 32.1027 34.8683 37.7861 51.152 72.4355 136.6056 6.00% 1.0000 2.0600 3.1836 4.3746 5.6371 6.9753 8.3938 9.8975 11.4913 13.1808 14.9716 16.8699 18.8821 21.0151 23.2760 25.6725 28.2129 30.9057 33.7600 36.7856 39.9927 54.8645 79.0582 154.7620 7.00% 1.0000 2.0700 3.2149 4.4399 5.7507 7.1533 8.6540 10.2598 11.9780 13.8164 15.7836 17.8888 20.1404 22.5505 25.1290 27.8881 30.8402 33.9990 37.3790 40.9955 44.8652 63.2490 94,4608 199.6351 8.00% 1.0000 2.0800 3.2464 4.5061 5.8666 7.3359 8.9228 10.6366 12.4876 14.4866 16.6455 18.9771 21.4953 24.2149 27.1521 30.3243 33.7502 37.4502 41.4463 45.7620 50.4229 73.1059 113.2832 259.0565 8.00% 1.0000 2.0800 3.2464 4.5061 5.8666 7.3359 8.9228 10.6366 12.4876 14.4866 16.6455 18.9771 21.4953 24.2149 27.1521 30.3243 33.7502 37.4502 41.4463 45.7620 50.4229 73.1059 113.2832 259.0565 10.00% 1.0000 2.1000 3.3100 4.6410 6.1051 7.7156 9.4872 11.4359 13.5795 15.9374 18.5312 21.3843 24.5227 27.9750 31.7725 35.9497 40.5447 45.5992 51.1591 57.2750 64.0025 98.3471 164.4940 442.5926 11.00% 1.0000 2.1100 3.3421 4.7097 6.2278 7.9129 9.7833 11.8594 14.1640 16.7220 19.5614 22.7132 26.2116 30.0949 34.4054 39.1899 44.5008 50.3959 56.9395 64.2028 72.2651 114.4133 199.0209 581.8261 12.00% 20.00% 1.0000 1.0000 2.1200 2.2000 3.3744 3.6400 4.7793 5.3680 6.3528 7.4416 8.1152 9.9299 10.0890 12.9159 12.2997 16.4991 14.7757 20.7989 17.5487 25.9587 20.6546 32.1504 24.1331 39.5805 28.0291 48.4966 32.3926 59.1959 37.2797 72.0351 42.7533 87.4421 48.8837 105.9306 55.7497 128.1167 63.4397 154.7400 72.0524 186.6880 81.6987 225.0256 133.3339 471.9811 241.3327 1181.8816 767.0914 7343.8578 Graded Worksheet + E F G H I 1 ] K L M N 0 P Q R S T 4.00% 0.96154 1.88609 2.77509 3.62990 4.45182 5.24214 6.00205 5.00% 0.95238 1.85941 2.72325 3.54595 4.32948 5.07569 5.78637 6.46321 7.10782 7.72173 7.00% 0.93458 1.80802 2.62432 3.38721 4.10020 4.76654 5.38929 20.00% 0.83333 1.52778 2.10648 2.58873 2.99051 3.32551 3.60459 3.83716 4.03097 4.19247 6.73274 5.97130 2.50% 0.97561 1.92742 2.85602 3.76197 4.64583 5.50813 6.34939 7.17014 7.97087 8.75206 9.51421 10.25776 10.98318 11.69091 12.38138 13.05500 13.71220 14.35336 14.97889 15.58916 16.18455 18.42438 8.30641 B C D 1 TABLE 4 Present Value of an Ordinary Annuity of $1 2 3 periods 1.00% 1.50% 2.00% 4. 1 0.99010 0.98522 0.98039 52 1.97040 1.95588 1.94156 6 3 2.94099 2.91220 2.88388 7 4 3.90197 3.85438 3.80773 8 5 4.85343 4.78264 4.71346 9 6 5.79548 5.69719 5.60143 10 7 7 6.72819 6.59821 6.47199 11 8 7.65168 7.48593 7.32548 129 8.56602 8.36052 8.16224 13 10 9.47130 9.22218 8.98259 14 11 10.36763 10.07112 9.78685 15 12 11.25508 10.90751 10.57534 16 13 12.13374 11.73153 11.34837 17 14 13.00370 12.54338 12.10625 18 15 13.86505 13.34323 12.84926 19 16 14.71787 14.13126 13.57771 2017 15.56225 14.90765 14.29187 21 18 16.39827 15.67256 14.99203 22 19 17.22601 16.42617 15.67846 23 20 18.04555 17.16864 16.35143 24 21 18.85698 17.90014 17.01121 25 25 22.02316 20.71961 19.52346 26 30 25.80771 24.01584 22.39646 27 40 32.83469 29.91585 27.35548 28 29 30 4.32706 3.00% 0.97087 1.91347 2.82861 3.71710 4.57971 5.41719 6.23028 7.01969 7.78611 8.53020 9.25262 9.95400 10.63496 11.29607 11.93794 12.56110 13.16612 13.75351 14.32380 14.87747 15.41502 17.41315 19.60044 23.11477 3.50% 0.96618 1.89959 2.80164 3.67308 4.51505 5.32855 6.11454 6.87396 7.60769 8.31661 9.00155 9.66333 10.30274 10.92052 11.51741 12.09412 12.65132 13.18968 13.70984 14.21240 14.69797 16.48151 18.39205 21.35507 7.43533 8.11090 8.76048 9.38507 9.98565 10.56312 11.11839 11.65230 12.16567 12.65930 13.13394 13.59033 14.02916 15.62208 17.29203 19.79277 4.50% 0.95694 1.87262 2.74896 3.58753 4.38998 5.15787 5.89270 6.59589 7.26879 7.91272 8.52892 9.11858 9.68285 10.22283 10.73955 11.23402 11.70719 12.15999 12.59329 13.00794 13.40472 14.82821 16.28889 18.40158 8.86325 9.39357 9.89864 10.37966 10.83777 11.27407 11.68959 12.08532 12.46221 12.82115 14.09394 15.37245 17.15909 5.50% 0.94787 1.84632 2.69793 3.50515 4.27028 4.99553 5.68297 6.33457 6.95220 7.53763 8.09254 8.61852 9.11708 9.58965 10.03758 10.46216 10.86461 11.24607 11.60765 11.95038 12.27524 13.41393 14.53375 16.04612 6.00% 0.94340 1.83339 2.67301 3.46511 4.21236 4.91732 5.58238 6.20979 6.80169 7.36009 7.88687 8.38384 8.85268 9.29498 9.71225 10.10590 10.47726 10.82760 11.15812 11.46992 11.76408 12.78336 13.76483 15.04630 6.51523 7.02358 7.49867 7.94269 8.35765 8.74547 9.10791 9.44665 9.76322 10.05909 10.33560 10.59401 10.83553 11.65358 12.40904 13.33171 8.00% 0.92593 1.78326 2.57710 3.31213 3.99271 4.62288 5.20637 5.74664 6.24689 6.71008 7.13896 7.53608 7.90378 8.24424 8.55948 8.85137 9.12164 9.37189 9.60360 9.81815 10.01680 10.67478 11.25778 11.92461 9.00% 0.91743 1.75911 2.53129 3.23972 3.88965 4.48592 5.03295 5.53482 5.99525 6.41766 6.80519 7.16073 7.48690 7.78615 8.06069 8.31256 8.54363 8.75563 8.95011 9.12855 9.29224 9.82258 10.27365 10.75736 10.00% 0.90909 1.73554 2.48685 3.16987 3.79079 4.35526 4.86842 5.33493 5.75902 6.14457 6.49506 6.81369 7.10336 7.36669 7.60608 7.82371 8.02155 8.20141 8.36492 8.51356 8.64869 9.07704 9.42691 9.77905 11.00% 0.90090 1.71252 2.44371 3.10245 3.69590 4.23054 4.71220 5.14612 5.5370s 5.88923 6.20652 6.49236 6.74987 6.98187 7.19087 7.37916 7.54879 7.70162 7.83929 7.96333 8.07507 8.42174 8.69379 8.95105 12.00% 0.89286 1.59005 2.40183 3.03735 3.60478 4.11141 4.56376 4.96764 5.32825 5.65022 5.93770 6.19437 6.42355 6.62817 6.81086 6.97399 7.11963 7.24967 7.36578 7.46944 7.56200 7.84314 8.05518 8.24378 4.43922 4.53268 4.61057 4.67547 4.72956 4.77463 4.81219 4.84350 4.86958 4.89132 4.94759 4.97894 4.99650 20.93029 25.10278 3 B D F G H I 1 2 On January 1, Ruiz Company issued bonds as follows: 3 4 Face Amount: $500,000 5 Number of Years: 15 6 Stated Interest Rate: 7% 7 Interest payments per year 2 8 9 Required: 10 1) Calculate the bond selling price given the two market interest rates below. 11 Use formulas that reference data from this worksheet and from the appropriate future or present value tables (found by clicking the tabs at the bottom of 12 this worksheet). 13 Note: Rounding is not required. 14 15 a) Annual Market Rate 9% 16 Semiannual Interest Payment: 17 PV of Face Amount: 18 + PV of Interest Payments: 19 = Bond Selling Price: 20 21 b) Annual Market Rate 6.00% 22 Semiannual Interest Payment: 23 PV of Face Amount: 24 + PV of Interest Payments: 25 = Bond Selling Price: 26 27 2. Use the answer either "Premium" or "Discount" to the following items. 28 29 The bond in (a) sold at a: 30 The bond in (b) sold at a: 31 32 3. Use the Excel PV function to verify the selling prices of the bonds. 33 a) Annual Market Rate 9% 34 Bond Selling Price 35 36 b) Annual Market Rate 6% 37 Bond Selling Price 38