Question: Brief Exercise 1 4 - 4 ( Algo ) Determining the price of bonds [ LO 1 4 - 2 ] A company issued 9

Brief Exercise 14-4(Algo) Determining the price of bonds [LO14-2]
A company issued 9%,15-year bonds with a face amount of $100 million. The market yield for bonds of similar risk and maturity is 6%. Interest is paid semiannually. At what price did the bonds sell?
Note: Do not round intermediate calculations. Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial calculator.(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1)
Price of bonds
Brief Exercise 14-4(Algo) Determining the price of bonds [LO14-2] A company

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