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What is the issuance Price of the bond? Please show all work in excel w steps. Jorge Corporation issued $100,000 par value, 6%, 4-year bonds
What is the issuance Price of the bond? Please show all work in excel w steps.
Jorge Corporation issued $100,000 par value, 6%, 4-year bonds (i.e., there were 100 of $1,000 par value bonds in the issue). Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1. Determine the issue price of the bonds if the market rate of interest is 8%Step by Step Solution
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