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St. X EF-3A (similar to) Qumby Corp purchased ten $1,000 5% bonds of Eagle Corporation when the market rate of interest was 14% Interest is

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St. X EF-3A (similar to) Qumby Corp purchased ten $1,000 5% bonds of Eagle Corporation when the market rate of interest was 14% Interest is paid semiannually, and the bonds will mature in five years Using the PV lunction in Excel compute the price Quimby paid (the present value for the bond investment (Assume that all payments of interest and principal occur at the end of th Quimby pod on the bond investment

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