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On January 1, Jancor, Inc. issued a 10-year monthly bond with a face value of $1,115,000 that pays 3.0% interest. On the date of issue,
On January 1, Jancor, Inc. issued a 10-year monthly bond with a face value of $1,115,000 that pays 3.0% interest. On the date of issue, the market for similar bonds was 6.0%. How much was Jancor able to raise from issuing this bond? For numerical entries, please 1. do NOT enter commas 2. do NOT enter the dollar symbol: $ 3. DO enter the percent symbol when it is needed: % 4. enter dollar amounts to the nearest cent, for example: 12345.67 Please complete the TVM Framework table to compute the amount that Jancor was able to raise by issuing this bond. Time Vale of Mnney (TV/M) Frampunrk What Excel function and arguments to that function would you use to compute this value? =function( rate, nper, pmt, [FV], [type])
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