The Minnesota Zoo Issues a bond due in 6 years with a. stated interest rate...
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Accounting
The Minnesota Zoo Issues a bond due in 6 years with a. stated interest rate of 7% and a face value of $160,000. Interest payments are made semi-ann. the market rate for this type of bond in 5%. What is the issue price of the bond (rounded to the nearest whole dollar) a) $176,412 b)$144,539 c)$154,312 d)$160,000
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