Brief Exercise G-13
Ivanhoe Company is about to issue $432,000 of 8-year bonds
paying an 11% interest rate, with interest payable annually. The
discount rate for such securities is 10%.
Click here to view the factor table.
(For calculation purposes, use 5 decimal places as
displayed in the factor table provided.)
How much can Ivanhoe expect to receive for the sale of these bonds?
(Round answer to 0 decimal places, e.g.
2,575.)
Ivanhoe can expect to receive | $enter a dollar amount to be recieved for the sale of bonds rounded to 0 decimal places |
Ivanhoe can expect to receive $455,048.19 | |
Dear Student | |
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Please find below the answer | |
Statementshowing Computations | |
Paticulars | Amount |
PV of Coupon payments = 432,000*11%*5.33493 | 253,515.87 |
PV of Face value to be received at end of 8 Years = 432000*.46651 | 201,532.32 |
Market price of bond | 455,048 |
Time | PVF at 10% |
1.00 | 0.90909 |
2.00 | 0.82645 |
3.00 | 0.75131 |
4.00 | 0.68301 |
5.00 | 0.62092 |
6.00 | 0.56447 |
7.00 | 0.51316 |
8.00 | 0.46651 |
PVF for 8 Years | 5.33493 |
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