Question
On January 1, Ruby Inc. issued 3,500 of $1,000 par value bonds with a stated rate of 8% and a 10-year maturity. Interest is payable
On January 1, Ruby Inc. issued 3,500 of $1,000 par value bonds with a stated rate of 8% and a 10-year maturity. Interest is payable semiannually on June 30 and December 31. Use Future Value of a Single Amount, Present Value of a Single Amount, Future Value of an Annuity and Present Value of an Annuity
Required:
What is the issue price if the bonds are sold to yield 6%? Round factors to five decimal places and final answer to the nearest dollar. $fill in the blank 1
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Financial Accounting
Authors: Robert Libby, Patricia Libby, Daniel Short
5th Edition
0073208140, 978-0073208145
