Stockman Corp, purchased ten $1,000 5% bonds of Simplex Corporation when the market rate of interest...

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Stockman Corp, purchased ten $1,000 5% bonds of Simplex Corporation when the market rate of interest was 6%. Interest is paid semiannually, and the bonds will mature in nine years. Using the PV function in Excel, compute the price Stockman paid (the present value) for the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.) Stockman paid on the bond investment. Stockman Corp, purchased ten $1,000 5% bonds of Simplex Corporation when the market rate of interest was 6%. Interest is paid semiannually, and the bonds will mature in nine years. Using the PV function in Excel, compute the price Stockman paid (the present value) for the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.) Stockman paid on the bond investment.

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Stockman purchased 10 bonds of 1000 each so total face value is 10 1000 1000... View the full answer