Harden Corporation issued a bond with a par amount of $500,000 and coupon rate of 7% per annum paid annually to finance the building of its new plant. Investors weren't satisfied with the coupon rate and bought the bonds at a discount making the proceeds from the bond sale $460,000. When the bond matures in 15 years, how much principal will the Harden Corporation have to pay investors? (No principal payments will be made before maturity.)

Answer rating: 100% (QA)

The Harden Corporation will have to pay investors ... View the full answer