The principal amount of a bond is $65,000 its stated rate is 7%, and the term of

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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

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Related Book For answer-question

Advanced Accounting

ISBN: 9781260247824

14th Edition

Authors: Joe Ben Hoyle, Thomas Schaefer, Timothy Doupnik

Posted Date: Jul 12, 2024 10:04 AM

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The principal amount of a bond is $65,000 its stated rate is 7%, and the term of

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