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  3. pharoah railroad co. is about to issue $135,000 of

Pharoah Railroad Co. is about to issue $135,000 of 7 -year bonds that pay a...

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Accounting

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Pharoah Railroad Co. is about to issue $135,000 of 7 -year bonds that pay a 8.0% annual interest rate, with interest payable semiannually. The market interest rate is 4%. How much can Pharoah expect to receive for the sale of these bonds? (For calculation ourposes, use 5 decimal places as displayed in the factor table provided. Round final answer to 2 decimal places, e.g. You would like to purchase a car with a negotiated price of $29,000, and the dealer offers financing over a 5-year period at 12%. If repayments are to be made monthly, at the end of each month, what would be the monthly payments? Calculate using (a) financial calculator or (b) Excel function PV. (Round answer to 2 decimal places, e.g. 52.75. Round interest rate per month to 4 decimal places, e.g. 1.2597\%.)

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