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Price Enterprises invested in the bonds of Greater Glouster on January 1, of year 20x1. These 10-year, $100,000 bonds pay interest of 3% every June
Price Enterprises invested in the bonds of Greater Glouster on January 1, of year 20x1. These 10-year, $100,000 bonds pay interest of 3% every June 30 and December 31. The effective rate of interest for similar bonds on January 1 was 4%. What is the purchase price (present value) of these bonds? 91,824 108,584 100,000 91,889
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