The following terms relate to independent bond issues:

1. 540 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments
2. 540 bonds; $1,000 face value; 8% stated rate; 5 years; semiannual interest payments
3. 790 bonds; $1,000 face value; 8% stated rate; 10 years; semiannual interest payments
4. 1,930 bonds; $500 face value; 12% stated rate; 15 years; semiannual interest payments

Use the appropriate present value table:

PV of $1 and PV of Annuity of $1

Required:

Assuming the market rate of interest is 10%, calculate the selling price for each bond issue. If required, round your intermediate calculations and final answers to the nearest dollar.

Situation	Selling Price of the Bond Issue
a.	$
b.	$
c.	$
d.	$

TABLE 9-2 Present Value of $1 (N) Periods 2% 3% 4% 5% 6% 7% 8% 10% 12% 15% 1 .98039 .96154 .92593 .89286 .86957 2 .92456 .88900 .85734 .79383 .90909 .82645 .75131 .79719 .71178 3 .97087 .94260 .91514 .88849 .86261 .83748 4 .73503 .68301 .62092 .93458 .87344 .81630 .76290 .71299 .66634 .62275 .96117 .94232 .92385 .90573 .88797 .87056 .85349 .83676 5 .68058 6 56447 .75614 .65752 .57175 49718 43233 37594 .32690 .85480 .82193 .79031 .75992 .73069 .70259 .67556 7 .95238 .90703 .86384 82270 .78353 .74622 .71068 .67684 .64461 .61391 .58468 .55684 .53032 .63017 .58349 54027 .51316 46651 .63552 .56743 .50663 45235 40388 .36061 .32197 .81309 .78941 .76642 .74409 .72242 8 .58201 9 .54393 28426 50025 46319 42410 38554 10 .82035 .50835 11 .80426 .64958 47509 42888 .35049 .28748 12 .78849 .70138 .62480 25668 44401 .41496 13 .77303 .94340 .89000 .83962 .79209 .74726 .70496 .66506 .62741 .59190 .55839 -52679 49697 .46884 44230 .41727 39365 37136 35034 .33051 31180 27751 24698 21981 .19583 .17411 24718 21494 .18691 .16253 .14133 .68095 .60057 .39711 .36770 .34046 31524 .22917 14 .75788 .57748 .31863 .28966 .26333 .23939 .21763 .38782 .36245 20462 15 .74301 .55526 .12289 16 .72845 .71416 .10686 .66112 .64186 .62317 .60502 .58739 .57029 .55368 .33873 .31657 .18270 . 16312 .14564 17 .29189 .27027 25025 .19784 18 .70016 .29586 .17986 .13004 .53391 .51337 49363 47464 45639 42196 19 .27651 .16351 .50507 .48102 45811 43630 41552 39573 37689 34185 31007 28124 25509 23138 .23171 21455 18394 20 .09293 .08081 .07027 .06110 .04620 .11611 .10367 08264 .14864 22 .52189 .68643 .67297 .64684 .62172 .59758 .57437 .55207 .12285 .10153 24 .39012 .25842 .22571 .19715 .17220 .15040 .13137 .15770 13520 .08391 49193 46369 43708 41199 26 28 36069 33348 .06588 05252 .04187 .03338 .03493 .02642 .01997 .01510 .11591 .06934 30 .30832 .09938 .05731 TABLE 9-4 Present Value of Annuity of $1 (N) Periods 2% 3% 4% 5% 6% 7% 8% 10% 12% 15% 1 .98039 .97087 .96154 .95238 .94340 .92593 90909 .89286 .86957 2 1.94156 1.88609 1.78326 1.69005 .93458 1.80802 2.62432 3.38721 1.91347 2.82861 3.71710 1.73554 2.48685 1.62571 2.28323 3 2.88388 2.77509 2.57710 1.85941 2.72325 3.54595 4.32948 2.40183 4 3.80773 3.62990 3.31213 3.16987 3.03735 3.60478 2.85498 3.35216 5 4.71346 4.45182 4.10020 3.99271 3.79076 6 5.60143 4.57971 5.41719 6.23028 5.24214 5.07569 4.76654 4.62288 4.35526 4.11141 7 6.47199 6.00205 5.20637 4.56376 1.83339 2.67301 3.46511 4.21236 4.91732 5.58238 6.20979 6.80169 7.36009 7.88687 8.38384 8.85268 8 7.32548 7.01969 4.96764 5.78637 6.46321 7.10782 7.72173 8.30641 9 8.16224 3.78448 4.16042 4.48732 4.77158 5.01877 5.23371 5.38929 5.97130 6.51523 7.02358 7.49867 4.86842 5.33493 5.75902 6.14457 6.49506 6.81369 5.32825 5.65022 10 8.98259 11 5.93770 12 9.78685 10.57534 11.34837 7.94269 5.42062 13 6.73274 7.43533 8.11090 8.76048 9.38507 9.98565 10.56312 11.11839 11.65230 12.16567 12.65930 13.13394 8.86325 9.39357 9.89864 7.10336 7.36669 6.19437 6.42355 6.62817 6.81086 14 12.10625 9.29498 15 12.84926 16 17 7.78611 8.53020 9.25262 9.95400 10.63496 11.29607 11.93794 12.56110 13.16612 13.75351 14.32380 14.87747 15.93692 16.93554 17.87684 18.76411 19.60044 18 13.57771 14.29187 14.99203 15.67846 16.35143 17.65805 18.91393 20.12104 21.28127 22.39646 19 5.74664 6.24689 6.71008 7.13896 7.53608 7.90378 8.24424 8.55948 8.85137 9.12164 9.37189 9.60360 9.81815 10.20074 10.52876 10.80998 11.05108 11.25778 8.35765 8.74547 9.10791 9.44665 9.76322 10.05909 10.33560 10.59401 11.06124 11.46933 11.82578 12.13711 12.40904 10.37966 10.83777 11.27407 11.68959 12.08532 12.46221 13.16300 13.79864 14.37519 14.89813 15.37245 9.71225 10.10590 10.47726 10.82760 11.15812 11.46992 12.04158 12.55036 13.00317 13.40616 13.76483 20 6.97399 7.11963 7.24967 7.36578 7.46944 7.64465 5.58315 5.72448 5.84737 5.95423 6.04716 6.12797 6.19823 6.25933 6.35866 6.43377 6.49056 6.53351 6.56598 7.60608 7.82371 8.02155 8.20141 8.36492 8.51356 8.77154 8.98474 9.16095 9.30657 9.42691 13.59033 14.45112 15.24696 15.98277 16.66306 17.29203 22 24 26 7.78432 7.89566 7.98442 8.05518 28 30