Question
Ocean Adventures issues bonds due in 10 years with a stated interest rate of 7% and a face value of $300,000. Interest payments are made
Ocean Adventures issues bonds due in 10 years with a stated interest rate of 7% and a face value of $300,000. Interest payments are made semi-annually. The market rate for this type of bond is 8%. Using a financial calculator or Excel, calculate the issue price of the bonds.
Multiple Choice
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$321,294.
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$209,412.
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$300,000.
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$279,615.
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Auditing And Financial Management Marine Corps Logistics System Could Be Drastically Reduced By Greater Reliance On Integrated Managers LCD 74-434
Authors: U. S. Government Accountability Office
1st Edition
1287198090, 978-1287198093
