Homework Answers
Solution 1:
Face value of bond = $300,000
Solution 2:
Stated rate of interest = 0.12
Solution 3:
Dollar amount of annual stated interest = $300,000*12% = $36,000
solution 4:
Dollar amount of semi annual interest = $36,000 * 6/12 = $18,000
solution 5:
Price of bond = $346,120
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On December 31, 2018, P. Star Corporation issued $300,000, 12%, 15-year bonds for $346,120 cash when...
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