Olay Inc. issues $60,000, 8%, 10-year bonds payable on January 1. Calculate the selling price of the bonds under the following separate assumptions.

• Round your answer to the nearest whole number.
• Do not use negative signs with your answers.

	a. The bonds pay cash interest annually ($4,800) and the market rate of interest on similar bonds is 10%.	Answer
	b. The bonds pay cash interest annually ($4,800) and the market rate of interest on similar bonds is 8%.	Answer
	c. The bonds pay cash interest annually ($4,800) and the market rate of interest on similar bonds is 6%.	Answer
	d. The bonds pay cash interest semiannually ($2,400) and the market rate of interest on similar bonds is 10%.	Answer
	e. The bonds pay cash interest semiannually ($2,400) and the market rate of interest on similar bonds is 8%.	Answer
	f. The bonds pay cash interest semiannually ($2,400) and the market rate of interest on similar bonds is 6%.	Answer