Question: Computing Bond Issue Price Abbington Inc. issues $ 6 3 0 , 0 0 0 of 9 % bonds that pay interest semiannually and mature

Computing Bond Issue Price
Abbington Inc. issues $630,000 of 9% bonds that pay interest semiannually and mature in 10 years. Compute the bond issue price assuming that the prevailing market rate of interest is:
Note: Round your answer to the nearest whole dollar.
a.8% per year compounded semiannually. $Answer
b.10% per year compounded semiannually. $Answer
Please show step by step how answer was achieved for both.

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