Chinook Inc. has available for issue a $3,200,000 bond due in eight years. Interest at the rate
Question:
Chinook Inc. has available for issue a $3,200,000 bond due in eight years. Interest at the rate of 6% is to be paid semi-annually. Calculate the issue price if the market interest rate is:
a.5.5%
b.6%
c.6.75%
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a b c PV of face amount of 3200000 2073198 1994134 1881489 PV of inte...View the full answer
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Related Book For
Fundamental Accounting Principles Volume II
ISBN: 978-1259066511
14th Canadian Edition
Authors: Larson Kermit, Jensen Tilly
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