A B C D E F 3 4 1 On January 1, Ruiz Company issued bonds as follows: 2 Face Value: Number of Years: S 5 Stated Interest Rate: 6 Interest payments per year 7 8 500,000 30 7% 1 9 Required: (Note: the bonds pay interest annually.) 10 1) Calculate the bond selling price given the two market interest rates below. 11 Use formulas that reference data from this worksheet and from the appropriate future or 12 present value tables (found by clicking the tabs at the bottom of this worksheet). 13 Note: Rounding is not required. 14 a) Market Interest Rate: 9% 17 18 19 15 16 Annual Interest Payment: PV of Face Value: +PV of Interest Payments: Bond Selling Price: 35,000.00 20 21b) Market Interest Rate: 5.5% 22 23 Annual Interest Payment: 35,000.00 24 IPV of Face Value ...ty of $1 Present Value of Annuity of $1 Sheet1 READY Attempt(s) 1/3 100% Hint