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Mind Explorers issues bonds with a stated interest rate of 7%, face value of $210,000, and due in 10 years. Interest payments are made
Mind Explorers issues bonds with a stated interest rate of 7%, face value of $210,000, and due in 10 years. Interest payments are made semi-annually. The market rate for this type of bond is 6%. Using present value tables, calculate the issue price of the bonds. (EV of $1. PV of $1. EVA of $1. PVA of $1. EVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice $225,622 $195,731. $171,360. $210,000.
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