Question: What is the amount received (rounded to the nearest dollar) upon issuance of a $250,000, 4%, 7-year bond that pays interest annually assuming a

What is the amount received (rounded to the nearest dollar) upon issuance

What is the amount received (rounded to the nearest dollar) upon issuance of a $250,000, 4%, 7-year bond that pays interest annually assuming a 6% effective (market) rate of interest? (Please show work for partial credit). Present Value of 1 Present Value of an Ordinary Annuity n 4% 5% 6% 4% 5% 6% 6 79031 .74622 .70496 5.24214 5.07569 4.91732 7 .75992 71008 .66506 6.00205 5.78637 5.58238 8 73069 .67684 .62741 6.73274 6.46321 6.20979

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