On February 1, 2017, Swiss Travel Corp. issued $750,000 of 11%, eight-year bonds. Interest is to be
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On February 1, 2017, Swiss Travel Corp. issued $750,000 of 11%, eight-year bonds. Interest is to be paid quarterly. Calculate the issue price of the bonds if the market interest rate was:
a. 6%
b. 11%
c. 13%
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PV of face amount of 750000 PV of interest annuity of 20625 750000 11 312 Total issue price C...View the full answer
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9781259087363
15th Canadian Edition
Authors: Kermit Larson, Heidi Dieckmann
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