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Sunland College is about to issue $0.92 million of 10-year bonds that pay a 6% annual interest rate, with interest payable semi-annually. Calculate the issue

Sunland College is about to issue $0.92 million of 10-year bonds that pay a 6% annual interest rate, with interest payable semi-annually. Calculate the issue price of these bonds if the market interest rate is (a) 5%, (b) 6%, and (c) 7%. (For calculation purposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 0 decimal places, e.g. 5,275.) Click here to view the factor table. Present Value of 1 Click here to view the factor table. Present Value of an Annuity of 1

(a)

Market interest rate 5%

$enter a dollar amount rounded to 0 decimal places
(b)

Market interest rate 6%

$enter a dollar amount rounded to 0 decimal places
(c)

Market interest rate 7%

$enter a dollar amount rounded to 0 decimal places

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