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please show your workings thanks! GMAT Corporation is planning to issue bonds with a face value of $257,500 and a coupon rate of 6 percent.
please show your workings thanks!
GMAT Corporation is planning to issue bonds with a face value of $257,500 and a coupon rate of 6 percent. The bonds mature in 5 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year Determine the issuance price of the bonds assuming an annual market rate of interest of 8.0 percent. (FV of $1, PV of $1, FVA of $1, and PVA of S1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.) M 2018 Issue price Scre M2018Step by Step Solution
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