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11 QS 10-20 A (Algo) Computing bond price LO C2 01:42:01 ...

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Accounting

11
QS 10-20 A (Algo) Computing bond price LO C2
01:42:01
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\table[[Cash Flow,Table Value,Present Value,],[eBook,$420,000 par (maturity) value,,],[$25,200 interest payment,,,],[Price of Bond,,,]]
Compute the selling price of 12.00%,15-year bonds with a par value of $420,000 and semiannual interest payments. The annual market rate for these bonds is 10.00%. Use present value Table B.1 and Table B.3 in Appendix B.
Note: Round all table values to 4 decimal places, and use the rounded table values in calculations. Round your other final answers to nearest whole dollar amount.
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