Interest rates determine the present value of future amounts. (Round all numbers to the nearest whole dollar.)

Question:

Interest rates determine the present value of future amounts. (Round all numbers to the nearest whole dollar.)
Requirements
1. Determine the present value of six-year bonds payable with of $84,000 and stated interest rate of 12%, paid semiannually. The market rate of interest is 12% at issuance.
2. Same bonds payable as in Requirement 1, but the market interest rate is 16%.
3. Same bonds payable as in Requirement 1, but the market interest rate is 10%.
Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...