Question
Stealth Fitness Center issues 5%, 10-year bonds with a face amount of $300,000. The market interest rate for bonds of similar risk and maturity is
| Stealth Fitness Center issues 5%, 10-year bonds with a face amount of $300,000. The market interest rate for bonds of similar risk and maturity is 4%. Interest is paid semiannually. |
| At what price will the bonds be issued?UseTable 2andTable 4.(Round "PV Factor" to 5 decimal places. Round other intermediate calculations and final answer to the nearest dollar amount.) |
| issue price=?
|
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Financial Accounting
Authors: Jamie Pratt, Michael F Peters
11th Edition
1119745322, 978-1119745327
