Question

Coney Island Entertainment issues $1,300,000 of 7% bonds, due in 15 years, with interest payable semiannually on June 30 and December 31 each year.

Required:
Calculate the issue price of a bond and complete the first three rows of an amortization schedule when:
1. The market interest rate is 7% and the bonds issue at face amount.
2. The market interest rate is 8% and the bonds issue at a discount.
3. The market interest rate is 6% and the bonds issue at a premium.



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  • CreatedJuly 15, 2014
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