Question
On January 1 Ellison Co. issued eight-year bonds with a face value of $201,500 and a stated interest rate of 8%, payable annually on December
On January 1 Ellison Co. issued eight-year bonds with a face value of $201,500 and a stated interest rate of 8%, payable annually on December 31. The bonds were sold to yield 6%. Table values are:
Present value of 1 for 8 periods at 6%........................................... .627
Present value of 1 for 8 periods at 8%........................................... .540
Present value of 1 for 16 periods at 3%......................................... .623
Present value of 1 for 16 periods at 4%......................................... .534
Present value of annuity for 8 periods at 6%................................. 6.210
Present value of annuity for 8 periods at 8%................................. 5.747
Present value of annuity for 16 periods at 3%.............................. 12.561
Present value of annuity for 16 periods at 4%.............................. 11.652
What is the issue price of the bonds?
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Clinical Audit In Physiotherapy From Theory Into Practice
Authors: Sue Barnard MSc MCSP, Gayle Hartigan
1st Edition
075063779X, 978-0750637794
