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Spiller Corporation plans to issue 10%, 9-year, $480,000 par value bonds payable that pay interest...

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Accounting

Spiller Corporation plans to issue 10%, 9-year, $480,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1)

Note: Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar.

If the market rate of interest for the bonds is 8% on the date of issue, what will be the total cash proceeds from the bond issue?

Cash Flow Table Value Amount Present Value
Present (maturity) value ? 480,000 ?
Interest (annuity) ? ? ?
Total Cash Proceeds ?
Table Value are Based on
n= ?
i= ?

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