Question: Chapter 5, Assignment 1 2.) Please show work On September 30,2024 , the Techno Corporation issued 8% stated rate bonds with a face amount of

Chapter 5, Assignment 1

2.)

Please show work

On September 30,2024 , the Techno Corporation issued 8% stated rate bonds with a face amount of $480 million. The bonds mature on September 30,2044 ( 20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30 . Required: Determine the price of the bonds on September 30, 2024. Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollar amount, not in millions. (FV of $1,PV of $1, FVA of $1,PVA of $1,FVAD of $1 and PVAD of $1 )

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