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E8-20A (Learning Objective 6: Calculate the present value of a bond investment) Brinkman Corp. purchased...

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Accounting

E8-20A

(Learning Objective 6: Calculate the present value of a bond investment) Brinkman Corp. purchased 10 $1,000, 5% bonds of General Electric Corporation when the market rate of interest was 4%. Interest is paid semiannually on the bonds, and the bonds will mature in six years. Using the PV function in Excel, compute the price Brinkman paid (the present value) on the bond investment.

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