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Rangel Corporation issued $520,000 of 5%, 15-year bonds payable on March 31, 2022. The market interest rate at the date of issuance was 8%,
Rangel Corporation issued $520,000 of 5%, 15-year bonds payable on March 31, 2022. The market interest rate at the date of issuance was 8%, and the bonds pay interest semiannually. Rangel Corporation's year-end is March 31. Read the requirements. 1. Using the PV function in Excel, calculate the issue price of the bonds. (Round your answer to the nearest whole dollar.) The issue price of the bonds is
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Given Face value 520000 Coupon rate 5 Term 15 years Payment frequency Semiannual Market rate 8 To ...
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Financial Accounting
Authors: C. William Thomas, Wendy M Tietz
13th Edition
013689903X, 9780136899037
