Question
Pronghorn Inc. issues $2,122,400of10% bonds due in12years with interest payable at year-end. The current market rate of interest for bonds of similar risk is11%. What
Pronghorn Inc. issues $2,122,400of10% bonds due in12years with interest payable at year-end. The current market rate of interest for bonds of similar risk is11%.
What amount will Pronghorn receive when it issues the bonds?(Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Amount received by Pronghorn when bonds were issued: ?
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McGraw Hills Conquering SAT Math
Authors: Robert Postman, Ryan Postman
2nd Edition
0071493417, 978-0071493413
