On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of...
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On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $101 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 6%. (Round your final answers to nearest whole dollar amount.) Table values are based on: n = 6% Cash Flow Amount Present Value Interest Principal Price of bonds On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $101 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.) Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 6%. (Round your final answers to nearest whole dollar amount.) Table values are based on: n = 6% Cash Flow Amount Present Value Interest Principal Price of bonds
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Related Book For
Intermediate Accounting
ISBN: 978-1260481952
10th edition
Authors: J. David Spiceland, James Sepe , Mark Nelson, Wayne Thomas
Posted Date:
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