Chinook Inc. has available for issue a $3,200,000 bond due in eight years. Interest at the rate

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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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Fundamental Accounting Principles Volume II

ISBN: 978-1259066511

14th Canadian Edition

Authors: Larson Kermit, Jensen Tilly

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Question Posted: Jan 08, 2015 08:37 AM

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Chinook Inc. has available for issue a $3,200,000 bond due in eight years. Interest at the rate

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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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