Why is Req 5 wrong?

Homework Help Save You received partial credit in the previous attempt Check my work View pre Exercise 10-3A Computing bond interest and price; recording bond issuance LO C2 Bringham Company issues bonds with a par value of $690,000 on their stated the date. The bonds mature in 7 years and pay 7% annual interest in semiannual payments. On the issue date, the annual market rate for the bonds is 10% (Table B.1. Table B.2. Table B 3. and Table 3.4) (Use appropriate factor(s) from the tables provided.) 1. What is the amount of each semiannual interest payment for these bonds? 2. How many semiannual interest payments will be made on these bonds over their life? 3. Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium 4. Compute the price of the bonds as of their issue date. 5. Prepare the journal entry to record the bonds' issuance. Complete this question by entering your answers in the tabs below. Reg 1 to 3 Reg 4 Reg 5 What is the amount of each semiannual interest payment for these bonds? How many semiannual interest payments will be made on these bonds over their life? Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premium. Prev 1 of 5 !! Next > You received partial credit in the previous attempt Req 1 to 3 Req 4 Req 5 What is the amount of each semiannual interest payment for these bonds? How many semiannual interest payments will be made on these bonds over their life? Use the interest rates given to select whether the bonds are issued at par, at a discount, or at a premiu Par (maturity) value Semiannual Rate 3.5% Semiannual cash interest payment 24.150 690,000 x Number of payments 14 Whether the bonds are issued at par, at a discount or at a premium? At a discount Reg 4 > You received partial credit in the previous attempt Ches Req 1 to 3 Req 4 Req 5 Compute the price of the bonds as of their issue date. (Round all table values to 4 decimal places, and use the rou values in calculations. Round intermediate calculations to the nearest dollar amount.) Table Values are Based on: n= = 14 5.0% Amount Present Value Cash Flow Par (maturity) value Interest (annuity) Price of bonds Table Value 0.5051 9.8985 $ X X $ 690,000 $ 24.150 348 519 239.049 587,568 Req5 >