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On January 1, 2016, Lamb Services issued $200,000, 9%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued
On January 1, 2016, Lamb Services issued $200,000, 9%, four-year bonds. Interest is paid semiannually on June 30 and December 31. The bonds were issued when the market rate was 10%. Required: Find the selling price of the bonds. How do I do this in excel? I am having trouble using the PV function and keep getting the wrong answer. Thanks!
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