Question: On 2018-05-01, ABC issued 7% bonds, with a face amount of $20000. The bonds mature on 2021-05-01. .The effective interest rate for similar bonds

On 2018-05-01, ABC issued 7% bonds, with a face amount of $20000.

On 2018-05-01, ABC issued 7% bonds, with a face amount of $20000. The bonds mature on 2021-05-01. .The effective interest rate for similar bonds is 6%. Interest is paid semiannually on May and Nov. The price of the bond was: Answer:

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