Question: E 1 5 . 2 ( { : L O 2 ) AP Central College is about to issue $ 1 million of 1 0

E15.2({:LO2) AP Central College is about to issue $1 million of 10-year bonds that pay a 4% annual interest rate,
with interest payable semi-annually.
Instructions
Calculate the issue price of these bonds if the market interest rate is
a.3%.
b.4%.
c.5%.
E15.2({:LO2) AP Central College is about to issue $1 million of

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