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On July 1, 20Y1, a company issued $46,000,000 of 20-year, 10% bonds at a market interest rate of 11%. Interest on bonds is payable semiannually
On July 1, 20Y1, a company issued $46,000,000 of 20-year, 10% bonds at a market interest rate of 11%. Interest on bonds is payable semiannually on December 31 and June 30. Calendar year. Compute the price of $42,309,236 received for bonds using Present Value at compound interest and present value of an annuity
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Financial Accounting
Authors: John Hoggett, Lew Edwards, Evelyn Hogg, John Medlin, Matthew Tilling
8th Edition
1742466362, 978-1742466361
