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On May 1, 2020, DJN Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a
On May 1, 2020, DJN Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face value of $5,026,000 and matured in 10 years. Interest was payable at a face rate of 6% each April 30 and October 31. The bonds were issued to yield 7.50%. Click here to view the factor table PRESENT VALUE OF 1. Click here to view the factor table PRESENT VALUE OF AN ANNUITY OF 1. (a-b) Using 1. factor Tables 2. a financial calculator, or 3. Excel function PV, calculate the issue price of the bonds. (Round pre value factor calculations to 5 decimal places, eg. 1.25124 and final answer to O decimal places eg. 58,971.) Issue price $ Prepare a bond discount/premium amortization table. (Round answers to O decimal places, e.g. 5,275.) Date 1-May-2020 31-Oct-2020 $ Cash Paid Interest Expense Amortized
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