Question: 1. ABC Co. issues $500,000, 10%, 10 year bonds when the prevailing market rate of interest is 11%. The bonds pay interest annually. Compute the

1. ABC Co. issues $500,000, 10%, 10 year bonds when the prevailing market rate of interest is 11%. The bonds pay interest annually. Compute the issue price of the bonds.(I tried 470552, 470124, 470450 are wrong answers)

2. ABC Co. issues $500,000, 10%, 10 year bonds when the prevailing market rate of interest is 9%. The bonds pay interest semi-annually. Compute the issue price of the bonds.(WRONG 532498, 106504 532300)

Please give a correct answer. Thanks

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