Question
Ocean Adventures issues bonds due in 10 years with a stated interest rate of 12% and a face value of $350,000. Interest payments are made
Ocean Adventures issues bonds due in 10 years with a stated interest rate of 12% and a face value of $350,000. Interest payments are made semi-annually. The market rate for this type of bond is 11%. Using a financial calculator or Excel, what is the issue price of the bonds?
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The Internal Auditing Handbook
Authors: K. H. Spencer Pickett
1st Edition
0471969117, 978-0471969112
