Question: please explain how to get the answer using the calcu Madrid Inc. issued 4% bonds on October 1,2021 . The bonds have a maturity date

please explain how to get the answer using the calcu Madrid

please explain how to get the answer using the calcu

Madrid Inc. issued 4% bonds on October 1,2021 . The bonds have a maturity date of September 30, 2031 (10-year maturity) and a face value of $300 million. The bonds pay interest every 6 months on March 31 and September 30, beginning March 31, 2022. Madrid has a December 31 year end. 9) Assume the market rate was 6% at the issue date. Using the tables attached to this exam, or using your calculator, determine the price of the bonds on the issue date (rounded to the nearest thousand)

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