please show work.

Seaside issues a bond that has a stated interest rate of 11%, face amount of $40,000, and is due in 8 years. Interest payments are made semi-annually. The market rate for this type of bond is 12%. What is the issue price of the bond? (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.) Multiple Choice $55,746 $37,979 $61,906 $40.000 TABLE I Future Value of $1 FV - 51(1+0 ST 1.5 7.016 ILON 9.09 10.04 11.01 12.09 30.046 OOST 000601 111000 204 2514 2016 3.54 4.64 3.0 5.54 1 101000 101500 102000 102500 103000 103500 104000 10400 105000 1500 2103010 1.09022 101010 1000 10000 107123101160 1.09203 110250 11103 3 10300 104588 100 1076 109273 1072 1146 114117 11576) 111424 1000 1001 110381112551 114757 11096 1925 111551 1233 3105101 1077 10408 113141 15939 118 121665134018 127628 130096 6.09 100000 112360 1 19102 110000 1 21000 118810 107000 11490 122501 13100 140055 108000 116610 125971 136019 1 12000 12540 1.40493 120000 14H000 172100 207300 1.23210 1.36763 1.31802 33100 29503 141158 140410 157132 ! 1323 140933 15160 1 61951 POS 91 MERCE ZERRY 1 1.77156 2016 2965 141852 15033 1.59105 5001 1.94873 321068 6100153 1954 113616 115000 LIMOS 122936 1933 110236 3401037854 7 10771410014114800 1312113199 1 140710 145468 1 1110110 110110071 11110357 143210 147146 14 1 1950 16 1677 136190 14331 4101351361909 10 11000 1100 110 12 141000 110H 155797 170814 3318 15007 1 5667 167710 710 14 171819 1.00 131646 1 75 215892167 214159 167041 ZONO 2014 755601 7.8.1942 DESE OSTET ANILLE 430000 16 0066 SALECE 1.7085 2.72101 IOS 1996 6 19174 2.59374 233164 SHS 115170 147855 1 2104 201220 225219 211293 LIRISE 21 SHARE 111117 117 1120 14 15 16 17104 10309 12 11301 1902 1903 143576 131101 10103 105 1906 190111 1) 130 1313359501 157851 140 160 1650 17:30 700577 H 1147 1131948 109 1139 110 111 112 113 111609 15 116 117 1147 148 137 1678 18000 1821 1072214 ROSE SOVE OSO VEEREE C WHICH WIELE 233112 3.360 145221 379750 477 M89 TACON 91610 100032 129 15.40703 2712 2.93719 317217 23000 2194 2.57853 2.79903 CLINE ICE 164 41104 4745 547151 4294 19701 459697 21 E COLECT HERE 066 370003 16 1723 172 144 1047 1739 17201 203237 217 21536 254015 17 118 119 12 1466 1.702.110329303 245480 265271 18 11 14 1 15 7000 LH 100 2.30518 402 760147 235414 19 12011 1.2 145 173331 33502100 7.3076 2005 2.7045 103500 20 20 1 11000 1100 W 219113 40171 2653302177 3.20714 6.1019 6604 295216 IS 3.37993 10183 36 3.99002 41876 471712 5.14101 5.60441 505447 555999 611591 672750 5.81019 S7509 6.54155 73634 OLIE 748 1 9609 2181 2062333 3800 13700 4000 TER 11.01.15 175 120 32.52004 278530723 1.1994 50336 6 LORI 740025 1917 10:03 15.00 3 12 11 10 07 2034 20354300543 31835 3813 429111 54210 64 6710810 H11 58548700006 5.1983 101 1116 037 033454031243110 4 761330 10.05306 13.1764 17400 3310 29.99 23733831 40 TS 114 1004 2005 2004 3983640100551856 70399 851331 10.23572 1974 172453 3140941633936000 3000 100 MENS TABLE 2 Present Value of $1 51 PV (1+0) ( 11.046 1.595 2046 2.545 3,044 4,096 4545 5.046 5.596 6.0 7.04 304 9.09. 10.04 11.09 12.09 20.096 0.99010 098527098039 097501097047 04618 096154 094 095238 094787 091540 0.958092393 091240090909000039286 083333 2 090030 097066 090117 095181 094260 093351 093456 09157) 0.90703 089845039000087544 08574 0.54168013645 0.31162 0.79719 06944 3 97059 095652 090 092860091514 090194 041900017630 016354 015161 0.13462 081630079581 0.72 0.75131 073119 071171 057870 + 0.01 0011 092385 090395 040 087144 0354000356 03270 01072 0.79209 076190 073501 7013 063301 0.65873 003552 0.48225 509547 0.2836 09057) 0.86261 019 02193 0.0345 078333 0765107726 07:19 068058 0.61093 067022 059745 56443 0.40160 OLETEO SRO ( 0.94305 0.01454 45797 0.36130 0.03748 0.81350 6.79631 6.78790 0.746116.73525 0.7046.46634 0.65019 0.58617 0.56447 0.554040.50663 0.35400 1093772 0.90101 017056 014127 011309 0.750 075992 073483 671061 060744 06650s 062275 05839 054703 031316 0:46166 0.45235 027900 092548 077 08519003075 0,70941 0.75941 071009 0.70519 067684 065160 06141 053201 0.54027 0.50182 046651 043193 0.40336 023257 091434 0.07439 05676 01007) 076043 073373 070359007250 064461 061763 039190054793 50035 046043 0.43410 J9092 036001 0.19381 10 0.90529 0.0167 0.00035 0.70130 0.74409 0.70192 067556 0.61393 061391058503055839 6.50 046319 04241 038554 033313 0.32197 0.10131 3 SO 116.2963154893 0.00 0.70214 8.73341 8.65495 0.64258 0.61630 0.56468 0.55401 0.53679 0.4750047810 0.875 0350490317283748 0.13450 13 030145 019 07849 07056 070131 060178 063460 05966 0.55654 0.52598 041097 0.44401039711 35533 16 028564 025608 011216 13 07666013401 07750) 07254602 60095 0.690 060057 0.56417 053032 049856 040054 04149 036770 033618 098900 0.3751033917 0.09346 14 OM 08 0.75788 007 000112 061778 8.57748053997 0.00 0.47257 0.4230 OR 1046 0.035 0.0333 0.23199 0 2016 007789 15 0.0195 075 07401 09047 064156 0.5 0.55536 05167 046103041793 041727 0.36345 03154 27454 021939 020900018270 006191 OCHO 16 0.7 0.73345 0.87341 0.62317 767 0.58391 0.40411 0.450.43458 0.365 0.33873 0.9109 2.5117031765 0.15829 0.16 0.05409 11 048 076 071416 085720 06010 635730 0.51337 0.47311 043630 040345 037136 031657 0.37037 028107 0.19754 010901014564 00450 18 000 0.16091 070016064112 8 053836 03 045380 041557 035147 015034 079536025035021199 0179 13233011004 003756 1900 0536 06643 060553657039 053016 0474640030 0.39573 030158 15051 0.27651 02371 0.1949 016151 0.13768 011 001130 3 03194 06733 01021 0553 0.50257 045090.41464 0.37 0.1073 031130 0.250 021455 01750 0.14864 012403 6.10167 002600 OCT 110.10163 6.731505078 0.9338 53756 48587 433.1987 358 3144.16 0.3411 0.19566 0.16370 0.13 10174 0.00354 0.02174 4 07875 GAWE 560172 65300193 04 0.913 0.4770031007 0.27606 0.34091 019715 015770 0.12610 010153 00010 0005880013 35 07197 017166095105799 047141 00 0.37512 033773 029530 016313023300 011425 0.14002011597 001230 07361 001018 0.750 0.65910 05141 0500 64708 638165 033348 09151 025509 023357 0.19565 015040 0.11591 0.0195 00094 005382 O 30000 6 0563110.41666 0.4335 036875 3065 0.02 0.309 02111 011456 14056 01073) 00025006304 004849 000 000 3014197 08 07 19 316 6.0032.36700033138 0.0004 1411 0.03.09 3.07537 0.65714338 31 0948 6101640 1851 0.1 0.4 201003550 033056 1010 0105 011271 00202 0.00013 00310 0935 000 00:51 452010054 033357 09 17193 010001110009722 0.00678 004603 003164 110 00153 0.010000 GEO TABLE 3 Future Value of an ordinary Annuity of $1 PVA(+1)1 W 101 17 1.54 709 2.0 10098 11.01 2004 10000 1 1 0001 10000 30450 3.1970 10000 20900 L. 2018 25 3.0 10000 10000 10000 10000 10000 10000 10000 22.0100 2010 3.0300 20250301000350 20400 10101 304500004 100 3.100 21216 4 4000 4000 416 417 41836 43149 5 510105152330405156 54163 10000 20550 31000 10000 2.1100 21000 10000 20500 3.1525 43101 55256 10000 2000 3136 3146 5-6371 GE 10000 20700 3210 ca 1.000 20000 3.246 Sodi 1204 10000 1200 3744 4793 63 SOC CHE 23000 1.6400 $300 271 4371 9847 CERE 13100 46410 105 CHE LOOL LEO 10S SEC 5.4707 3.5811 5.7507 7.10 610 7.1333 SC ESITY 6093 61 OVE 3.990 . 615301 301 6.3877 6.4664 . 6.6330 1 7:3135 310 741 1.5414 425 77794 1983 $ 21 3433 35850 716101793143 75 9545 101110 0 10 10 10 10 101 109 11054 114699 117514 1100 6716 0192 1800 10025 13.20 101 1 69753 90 9.95 11 4913 11100 140 . 1110260 12.5779 97210 11156 12754 2013 7.715 91004 WA 11.00 110 10010 15199 10598 1170 13.3164 SE S 19129 920 10.00 12 1991 14160 17257 16.230 125487 9.9200 12.9159 16-993 30 298 35.9507 SEI 12.018 144860 91281 16.01 18.5312 198414 321504 39 130 10 LUAR IKERE 31 11.5 11.343 12107 1.435 11078 1.140 14564 12 13 11011 11011179 141930 1400 15.02 113 114 115 115 116 111016634 14 149 15.4504 15 16:51 116770 1919 15 16.00 16 17 1819 185 1957 1003 13.12 154610 1915 1311 20.541 14.30 14.05 159171 16.3836 17 7110 1828 19 1996 2016 21 57 3700 15.7816 17 S 201406 235503 251290 17.30 201407 12.95 14012 29 100 22 36116 10854 313 210091 32920 2103 21 URET LAR ES LLLL 616 KS 100 20151 212100 300 4054 27 1521 GERE 22.0353 1181 21.1193 30 M2 3.3.04 6233 HII 36 TER SEE 23.4575 25 104 211334 16 13 2334 133 132 3.150 TO 118345 IT 19301 1111010023 I 196141 142 141 16454 11 2010 2011007 276713 2013 15:54 CONEC 169737 41100 105930 ESSER 38.1 3000 501919 21 21:29 30.057 11800 16756 0343 33.7502 37503 41 403 7.30 LOCS DES DE 32100 13 37370 035 29001 313714 405442 455992 31.15 51210 CEPS DO THESE 1360 CER 51001 14.05 13.04 18 RO ITE LOTTE 1113111300517183 37.711 999 56.7645 307567575431605007 60 12415 110 1015101000 01 543000 45000 10 10 156 056 15470019635 10453374034 18 18 PEREIROH TABLE 4 Present Value of an ordinary Annuity of $1 PVA 2.54 1044 N 35 07 WT VS1050 01040 105 60 7.04 04 8106 LOGO SUOTI HOO 2 5661 1907 195150 CHI LOST LICE 0.0011 1990 2014 E60 PEET 095094 LO 167207 2770927490 1911 15401 03398039 19416 20130 2 310773 476 4711 3 ONE 2610 1 10802 IEEE 1119 267101 ALGE 10.04 11.09 30.04 0911 99 90000 0 0.00 1911 1735 1732 1.600 15777 251129 746852401) 210648 23372 10987 110045 30 253 72079 0950160478 29001 257710 3.71710 WERE FILE CASSE IS DEVE 150115 1 1721 FEE COST SLOT Y 40 LLC 451503 SHE 1170 000 1997 . 79 5.60145 TH 4179 SES LLIS Os 566 491783 GEL HMS 4.7624 WINEO SOCO $69 7810 019 41 10 456116 760418 TL 7.1 11 7100 11 14114 37937 67114 7433 7.10 110 79172173 743 73548 1014 19 SMS 300 . 2009 IS TO SET TO FOLLOS LOVE FEES BOLO TOOLS DE 65 CO 169 BE NO TILL DEO ESMED DESA 6S BOLT 116 TIS EL ICE 751163 34 Tidos 16000 AM 1 2 3 4 CE 749 166 FEE LOGO LE HE 75000 1763 1. 7140 30641 ISO 105 10:10 11858145 LI 121173153 139 10100014 11 11001150361065 11 1007 1007 10 312 10 111334 126 12 18 1195741131141 111108 10739551036010037 SO SERES EN POSES CELE WEIRO SOLL DU SIZ LOVEL 8500 WS LINE BE SI SELE 9.1991 1000 710 610 66754 16 14:10 14.13 13.5 13.11.2010 111 112 113 114397 18.40 18.00 11 412 333 11112131111707191107 108 1047230 9.4 LES Y DIE LEWE ICE 164 544119 O O O O 1 DE SET 1170 11801310254 13 13 12.533 120121121033560 11 I 155 15 14TH 201401300794 1140 119010 12 10 59001 GE METHICOT 091096 EN ESTE TOLE LES 6 11 11 14 14 14 101 1079 M 13.4047 1 11.11384 11.7608 333 18.00 2013 IN 1930 19311411518432115 HT 180744433376 1 100 0305190.0004 1 0111015373411331 117648 110 111578 1079 17 18 19 20 19 1804621331 0738 W SISTE ONEP HLINE SOLE LE TO OF MEESTE TARLE 5 Future Value of an Annuity Due of $1 +7) FVAD (+) W 1.514 2.09 1.544 4.64 45 w 5.04 3:54 6.046 7015 101 9.01 10.048 ILO 11.09 20.04. SL 00101 1 1 05101 1.0000 1.0250 OST01 OSCO 00001 10700 0060 11000 11100 1 1700 2 20101 20132 0001 SESET 20601 20150 21370 1.2000 26400 2160 3.046 154 10300 10350 090021000 1836 3214 6091 43615 $4684 10500 2461 3.5061 22149 2211 DOLCE 10400 21210 2465 44163 THE 217444 3 00 POWE STSTE ZUE HOC COSE FREE 46 TEISE 6410 3.07 3.7793 41010 21836 33740 4.6371 5.9953 TOIC SES 6109 460 6.4416 4954 3.1051 57270 BESES ORIES 44707 57109 90S 3.3081 5312 DOSS COSE! LESEO 5.6330 5331 61359 BESO TIS 09129 OS 19299 . SI OUTCW 70191 7140 PAL LO 9.3038 WEEL LIE 0000 CO DIR 11.9150 7.300 7216 TOS STOM 1000 SOF TO Los . 640 M14 4.6018 7 73517438 1560 77361 85503 7541 95 9 94632 941 10.054 104 1031 100 10 10.5661 10.633 ILI 114035 110 1430 12:44 00 CON 16 WE LT SLEE 101 POUZI ASTOT SI 102563 74540 od 17 1140 1316 147 1563 LETE SLEE DILUI 104 X 1010 15.720 10 000 11 5779 1001 LOL 111 HER SESET PLEAP! 19.99 29547 VAR SI CASI HI 165003 13.9716 12.12 1981 198546 POSTI WE COVER VI TIHTI wilt 16.15 172171 11401 SORT ILIO DELLE 144640 16.159 129331 153856 171308 23.1331 15.99 17 16 12 2013 2013 60 144 1461 13 114 14.4504 149 15510 16.00 168770 172019 14 15 161 162994 169519 11 I 190230 47 16 661 ISTO 19 400 21.550 2412 1 SM SO O T C SES 2014 21.7033 2 38 3110 209750 30 1723 114054 331149 61606 19.7341 VAS DE LOPTE 23-2700 31:39 16279 ICSERE GE 58 1959 71 0151 18441 EGILE 226575 2 6411 CELOTE DE 170014 LOR SECI 16 17.4304181014 19.011 19.347 30.7016 11.050 11.75 33.7417 PONTE BITE ter 33.7503 35.9737 39.5461 BOOST 47.83 POLIETOT HI HILO I 06. CE 30.4502 49.15 PERE DESSE LAR 18 19 20 21 540641100353571166712 19 11010 23.1937 23 1974 1454 2704 1797 1778 18.9964 24012 11.1077 33 16.7001 404463 TESTOS 160616 303714 32781 55.993 239057 12.000 35.7856 3991 TOE OP 10 S TOOD 36 37 39 9955 1116 1537400 OZOLT 097 T0134 OSLE 9 330600 343 TO SO SE REPETATE KE 35704 630035 71 2651 ZO CORE PES LEEP 21 11.4716 14.818 1917 1918 339 3.340 25 15256 10 11 12 67091 017 7553003013117 | | | | | | | 1037133 019 01 07 m ISOLE SCIO LE CETE LEO OTO ESHITISTICS 39 4.ST 4440 30.1143 539000 1564 76785 789544 764194 2017 101701333459 1830 184 2002 2003 HIR 1419 14 21 EOS IEBSSYS S CISESEO 455706 30 17534 760 11111 120539 TABLE 6 Present Value of an Annuty Due of $1 140 PVAD (1 IM 1.51 2.046 2. 3.09 4. 454 5.05 554 ON 2016 1 t 100000 OOT 000001 000001 000001 100000 199010 000001 100000 1982 7,04 160000 000001 104 100000 10.04 11. 12.09 20.04 100000 100000 10000 10000 00000 BE61 100000 199501 17002 1.98019 294156 1996 000001 OVAT USHI COSTET 1154 28 CERT SET 01 ROSI 3 2955 1940 CH167 2 0026 016 1.95094 257161 1977 25403 2.15911 HEET WELT INCISI 11652 GZISE 27554 271257 00 77 4 7 CONSUL TE 0164 DIE UIT GENE 2.00 1640 GOSLL OGO 5 SRE 6106 1901 TOP TL 410773 STEELS SOSES LOTZ ED SICOS NOVO! 471110 1019 ICO 43753 DILLEE CTRIC 0721 42972 41 10345 35337 . 5085145 ST264 371146 3.64583 5.51308 3899 SHERS 3:2701 10010 TOP 53771 641719 MT 7 GD CHO COSO SSES PICH 6 157 8016 21134 391734 6:31 17054 14093 1 THE COST + 4COLT ISSEET HOE WEES SES SPOT 1 GEEL 2.51 ES5665 ISTO 741 GEL SEDETE 7154 TODOS 00 3627 2007 639210 678037 1929 9161100 14 WSZET POLI 39 MESE BELE TERY 733457 OCD HOLU TORSD 10 55676 41045 8.313 414612 31166116 6.759023370 1235 503097 09956 CODE 6 7.3950 3279 9102 1.9012 11981 720979 7.30 160161 3100 GES 7515.25 73409 699525 13600 11 10.4716 10:30 993250 74306 172173 10040 209254 100 101135 1413.1934 12.73153 1234857 11 16 4 10 93581008255 10.39357 10.11708 7.71000 13 DOS 1991 LET ELSE STO 561001 TO THIS BOI O 11 OR IT TGES ICE 299 LORE 90L DOS LLEI HOUSI 1506 I SOSTI STE PECCG HOS 190596 SUSE SICH SHOES UT THE CI 011 otti TIFOSI OLOS 7.41766 710519 16013 urers LOTY PL BOCZE OD SPOLU 77.216 TIMOT 93 10336 742355 5268 937 SOLO 600 16 145 14313 13.493 1338138 11.63794 11.51941 12.11 1.73045 11.3718 11037 10.71725 10.10791 00 8.00 8.19087781056 61441 OSLEZ IGLESE P. 0917 01 Til IV 11 L CORTE I THOT! 0110 00 LLLSICCEST LESI 21584 OSIE COCKS PICTOR CELOT RUVILICONETI 6110621 950 1951 1901 OGS S00651 E 11056 0600 01 09 TISCOIT SE CHEESE CHE LO 19 17.1987 1687256 1530 1535336 1475751 1410 13.65930131599 12.61959 12.34607 110700 1101037189 9.75965 901135 EST 2014101622087322 60930993010 11 19 1810 17.39143 1916 15 14 13111403 1474 13.4411112950 12.40093 11.30 10.018 10.1356 33 34 35 234191 0904119.93 1699 1793554 106 10 1490 154941141664 4151013 12:43 11 10 10 161666579430081254038145355 08 1907 198711702181614101 1533010072 37707121411 1111010110011013 403160390.36458 1790019 873034 0211095006 19 18 17 16 15 1490 12 11 10 93587 P WEISS LES MEMBRES 1866 CINE TREI DE COSE CHE SWE61 101W