Question: The bonds were sold to yield 10%. Table values are: Present value of 1 for 8 periods at 8% 0.540 Present value of 1 for

The bonds were sold to yield 10%. Table values are:

Present value of 1 for 8 periods at 8% 0.540
Present value of 1 for 8 periods at 10% 0.467
Present value of 1 for 16 periods at 4% 0.534
Present value of 1 for 16 periods at 5% 0.458
Present value of annuity for 8 periods at 8% 5.747
Present value of annuity for 8 periods at 10% 5.335
Present value of annuity for 16 periods at 4% 11.652
Present value of annuity for 16 periods at 5% 10.838

The present value of the principal is

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