Mind Explorers issues bonds with a stated interest rate of 7%, face value of $200,000, and due in 10 years. Interest payments are made semi-annually. The market rate for this type of bond is 6%. Using present value tables, calculate the issue price of the bonds.

Answer rating: 100% (QA)

Here are the detailed workings for calculating the issue price of the bonds Determine the number of interest payment periods Since interest payments a... View the full answer