Analyzing and Reporting Financial Statement Effects of Bond Transactions

On January $1$ of the current year, Banek Inc. issued $$770,000$ of $8\%,$ nine$$year bonds for $$679,990,$ which implies a market $($yield$)$ rate of $10\%.$ Semiannual interest is payable on June $30$ and December $31$ of each year.

a$.$ Show Excel inputs to confirm the bond issue price.

Note: Round your answer to two decimal places.

rate $=0\mathrm{.}05$

nper$=18$

pmt$=-30800$

fv$=-770000$

answer$=?$

Answer rating: 100% (QA)

To confirm the bond issue price using Excel you can use the PV ... View the full answer