Question
The following terms relate to independent bond issues: 610 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments 610 bonds; $1,000 face
The following terms relate to independent bond issues:
610 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments
610 bonds; $1,000 face value; 8% stated rate; 5 years; semiannual interest payments
830 bonds; $1,000 face value; 8% stated rate; 10 years; semiannual interest payments
1,880 bonds; $500 face value; 12% stated rate; 15 years; semiannual interest payments
Assuming the market rate of interest is 10%, calculate the selling price for each bond issue. Refer to the tables above for present value factors. If required, do not round intermediate calculations and round all final answers to the nearest dollar.
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