On January 1, Year 1, a company issues $25.7 million of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The company intends to use the funds to build the worlds largest water avalanche and the tornado a giant outdoor vortex in which riders spin in progressively smaller and faster circles until they drop through a small tunnel at the bottom.
Exercise 9-19B Part 3 3-a. If the market rate is 8%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round "Market interest rate" to 1 decimal place. Enter your answers in dollars not in millions. Round your final answers to the nearest whole dollar.) Amount Bond Characteristics Face amount $ 25,700,000 Interest payment Periods to maturity Market interest rate Issue price 3-b. The bonds will issue at O A Discount O A Premium O Face amount 00 8 Required information Part 1 of 3 Exercise 9-19B Calculate the issue price of bonds (LO9-7) The following information applies to the questions displayed below.) 1.5 points On January 1, Year 1, a company issues $25.7 million of 7% bonds, due in 10 years, with interest payable semiannually on June 30 and December 31 each year. The company intends to use the funds to build the world's largest water avalanche and the "tornado- a giant outdoor vortex in which riders spin in progressively smaller and faster circles until they drop through a small tunnel at the bottom. eBook Exercise 9-19B Part 1 Hint Required: 1-a. If the market rate is 6%, calculate the issue price. (FV of $1, PV of $1. FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round Market interest rate" to 1 decimal place. Enter your answers in dollars not in millions. Round your final answers to the nearest whole dollar.) Print Bond Characteristics References Amount 25,700,000 Face amount S Interest payment Periods to maturity Market Interest rate Issue price 1-b. The bonds will issue at O A Discount O A Premium O Face amount Exercise 9-19B Part 2 2-a. If the market rate is 7%, calculate the issue price. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round "Market interest rate" to 1 decimal place. Enter your answers in dollars not in millions. Round your final answers to the nearest whole dollar.) Bond Characteristics Amount Face amount $ 25,700,000 Interest payment Periods to maturity Market interest rate Issue price 2-b. The bonds will issue at A Discount A Premium O Face amount
