On January 1, 2021, Rupar Retailers purchased Anand Company bonds which have a face value...
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Accounting
On January 1, 2021, Rupar Retailers purchased Anand Company bonds which have a face value of $100,000. The bond matures in 6 years. The Anand bonds pay 6% interest but were purchased when the market interest rate was 7% for bonds of similar risk and maturity. The bonds pay interest semiannually on June 30 and December 31 of each year. What is the bond price?
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