Homework Answers
Cash proceeds from issuance of the bonds = Present value of interest PVIAF (6%, 14 years) + Present value of maturity PVIAF (6%, 14th year)
= 27300000*10%*6/12*9.29498 + 2730000*0.44230
= $2476244
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Brief Exercise G-16
Pharoah Company issued 6%, 6-year, $225,000 par value bonds that
pay interest annually on April 1. The bonds are dated April 1,
2022, and are issued on that date. The discount rate of interest
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Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
What cash proceeds did Pharoah receive from issuance of the bonds?
(Round answer...
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Please help! They give you this factor table, too.
This should be all you need! Please help me!
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Brief Exercise G-16
Pharoah Company issued 6%, 6-year, $225,000 par value bonds that
pay interest annually on April 1. The bonds are dated April 1,
2022, and are issued on that date. The discount rate of interest
for such bonds on April 1, 2022, is 8%.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
What cash proceeds did Pharoah receive from issuance of the bonds?
(Round answer...
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pay interest annually on April 1. The bonds are dated April 1,
2022, and are issued on that date. The discount rate of interest
for such bonds on April 1, 2022, is 8%.
Please help! They give you this factor table, too.
This should be all you need! Please help me!
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