Question
St. Clair Drums issued $100,000 of 8-year, zero-coupon debenture bonds on January 1 when the market yield was 6%. The bond agreement stated that compounding
St. Clair Drums issued $100,000 of 8-year, zero-coupon debenture bonds on January 1 when the market yield was 6%. The bond agreement stated that compounding was semiannual.
How much are the proceeds of the bond issue ??
- $100,000
- $ 69,843
- $ 50,160
- $ 62,317
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Financial Accounting The Basics
Authors: Ilias Basioudis
1st Edition
1138605514, 9781138605510
