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please explain how to get the answer using the calcu Madrid Inc. issued 4% bonds on October 1,2021 . The bonds have a maturity date
please explain how to get the answer using the calcu
Madrid Inc. issued 4% bonds on October 1,2021 . The bonds have a maturity date of September 30, 2031 (10-year maturity) and a face value of $300 million. The bonds pay interest every 6 months on March 31 and September 30, beginning March 31, 2022. Madrid has a December 31 year end. 9) Assume the market rate was 6% at the issue date. Using the tables attached to this exam, or using your calculator, determine the price of the bonds on the issue date (rounded to the nearest thousand)Step by Step Solution
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