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Present value of bonds payable; discount Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $22,000,000 of five-year, 5% bonds,
Present value of bonds payable; discount Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder issued $22,000,000 of five-year, 5% bonds, with interest payable semiannually, at a market (effective) interest rate of 8%. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the question below. X Open spreadsheet Determine the present value of the bonds payable. Round your answer to the nearest dollar. $ Present value of bonds payable; discount DATA Face amount of bonds Contract rate of interest Term of bonds, years Market rate of interest Interest payment $22,000,000 5% 5 8% Semiannual Using formulas and cell references, perform the required analysis, and input your answer into the Amount column. Transfer the numeric result for the green entry Ocell (B13) into the appropriate field in CNOWv2 for grading. 1 2 2345 3 PV of bonds Amount Formula
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