Question: Barnwell Corp. purchased five $ 1 , 0 0 0 6 % bonds of Voltgo Corporation when the market rate of interest was 8 %

Barnwell Corp. purchased five $1,0006% bonds of Voltgo Corporation when the

Barnwell Corp. purchased five $1,0006% bonds of Voltgo Corporation when the market rate of interest was 8%. Interest is paid semiannually, and the bonds will mature in four years.
Using the PV function in Excel ?, compute the price Barnwell paid (the present value) for the bond investment. (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest cent.)
Barnwell paid on the bond investment.
market rate of interest was 8%. Interest is paid semiannually, and the

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