Question: On December 31, 2021, Interlink Communications issued 7% stated rate bonds with a face amount of $103 million. The bonds mature on December 31, 2051.

On December 31, 2021, Interlink Communications issued 7% stated rate bonds with a face amount of $103 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 S1 FVAD of $1 and PVAD of $) (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 8%. (Round your final answers to nearest whole dollar amount.) Table values are based on: ne Amount Present Value = Cash Flow Interest Principal Price of bonds

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Determine the steady-state voltage vo(t) in the circuit shown in figure if the input signal is shown infigure. 1 v,(1)(+ ()*a 20 1H vo(t) 1F= (a) A 1a -3 -2 -1 o 1 2 3 4 5 (b)

On December 31, 2021, Interlink Communications issued 7% stated rate bonds with a face amount of $120 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31,...

On December 31, 2021, Interlink Communications issued 8% stated rate bonds with a face amount of $109 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31,...

HELP! On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $113 million. The bonds mature on December 31, 2051. Interest is payable annually on each...

1. On December 31, 2021, Interlink Communications issued 7% stated rate bonds with a face amount of $108 million. The bonds mature on December 31, 2051. Interest is payable annually on each December...

Kingsley Toyota borrowed $185,000 from a local bank. The loan requires Kingsley to pay 12 equal annual installments beginning one year from today. Assume an interest rate of 9%. What is the amount of...

Brief Exercise 5-12 (Algo) Price of a bond [LO5-10] On December 31, 2021, Interlink Communications issued 7% stated rate bonds with a face amount of $103 million. The bonds mature on December 31,...

Brief Exercise 5-12 (Algo) Price of a bond (L05-10) On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $111 million. The bonds mature on December 31,...

On December 31, 2021, Interlink Communications issued 4 % stated rate bonds with a face amount ofl$116 million The bonds mature on December 31, 2051. Interest is payable annually on each December 31,...

On December 31, 2021, Interlink Communications issued 5% stated rate bonds with a face amount of $118 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31,...

Garden Company has the capacity to produce 200,000 tillers. Variable costs are $30 per tiller. Fixed costs are $1,500,000. Should the company aim to sell 200,000 at $100 each, 160,000 at $125 each,...

Just Dew It Corporation reports the following balance sheet information for 2020 and 2021. Assets Current assets Cash Accounts receivable Inventory Total Net plant and equipment Total assets 2020...

For a portfolio of N - stocks, the formula for portfolio variance contains: Question 1 0 Answer a . N covariance terms. b . N ( N 1 ) 2 different covariance terms. c . N 2 raise to the power of 2...

Hypothesis Testing of a Single Mean LCTCS Tuition: Louisiana Community And Technical College System consist of 2 community colleges across the state. I think RPCC's tuition and fees is lower than the...

(Appendices) COMPONENTS OF COST OF GOODS SOLD. Annas Corner Store has the following data for a recent year. LO9

(Appendices) TERMS OF SHIPMENT AND ENDING INVENTORY. On December 31, Archive Products had two shipments of merchandise in transit from different suppliers. The first shipment, which arrived on...

(Appendices) PURCHASES, SALES, AND COST OF GOODS SOLD. The following data were available for Jeans Inc., a seller of denim clothing, at January 1 of a recent year: Jeans Inc. records purchases and...