Question: AR Corp issued $ 5 0 , 0 0 0 of 6 % bonds are dated 1 / 1 / 1 8 and were issued

AR Corp issued $50,000 of 6% bonds are dated 1/1/18 and were issued on that date. The bonds pay interest semiannually on July 1 and Jan 1 and mature in 5 years. On the date the bonds were issued, the market rate of interest was 5%. What is the price of the bonds?

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