On January? 1, Year? 1, Congo.com issued? $1,000,000 of its? 10-year, 9% bonds? (interest paid? annually) to yield? 8%. The present value of? $1 at? 9% for 10 years is? 0.4224, and the present value of an ordinary annuity of? $1 at? 9% for 10 years is 6.4177. The present value of? $1 at? 8% for 10 years is? 0.4632, and the present value of an ordinary annuity of? $1 at? 8% for 10 years is 6.7101. Which of the following is closest to the selling price of the? bond?

Answer rating: 100% (QA)

8 9 Interest 8000067101 536808 90000614177 ... View the full answer