Question
The principal amount of a bond is $65,000 its stated rate is 7%, and the term of the bond is 6 years. The bond pays
The principal amount of a bond is $65,000 its stated rate is 7%, and the term of the bond is 6 years. The bond pays interest semiannually. At the time of issue, the market rate is 8%.
Determine the present value of the bonds at issuance.
A) $65,000
B) $62,393
C) $18,463
D) $44,266
DO not copy from chegg
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Applications Of Accounting Information Systems
Authors: David M. Shapiro
1st Edition
194999158X, 9781949991581
