Question: Need help with PV. please show work (formula) done to get answer, thank you. On September 30, 2016, the San Filipo Corporation issued 8% stated

Need help with PV. please show work (formula) done to get answer, thank you.
On September 30, 2016, the San Filipo Corporation issued 8% stated rate bonds with a face amount of $340 million. The bonds mature on September 30, 2036 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factorfs) from the tables provided.) Required: Determine the price of the bonds on September 30, 2016. Table values are based on: 40 5% Cash Flow Interest Principal Amount $ 13,600,000 $ 340.,000,000 Present Value Price of bonds
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
