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On January 1, 2020, bonds with a face value of $72,000 were sold. The bonds mature on January 1, 2030. The face interest rate is
On January 1, 2020, bonds with a face value of $72,000 were sold. The bonds mature on January 1, 2030. The face interest rate is 6%. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 10%. What is the market price of the bonds? The present value of $1 for 20 periods at 5% is 0.377. The present value of an ordinary annuity of $1 for 20 periods at 5% is 12.462. The present value of $1 for 20 periods at 3% is 0.554. The present value of an ordinary annuity of $1 for 20 periods at 3% is 14.878. (Round your final answer to the nearest dollar) OA. $72,024 OB. $74,160 OC. $72,000 D. $54,062
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