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Mind Explorers Issues bonds with a stated interest rate of 6%, face value of $220,000, and due in 10 years. Interest payments are made
Mind Explorers Issues bonds with a stated interest rate of 6%, face value of $220,000, and due in 10 years. Interest payments are made semi-annually. The market rate for this type of bond is 5% Using present value tables, calculate the issue price of the bonds (EV of 51. PV of $1. FVA of $1. PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Multiple Choice O $180,113 $205.051 $237:47 $220,000
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