Homework Answers
|
Present value of the Principal PVF (5%,20) |
$430,000 * 0.37689 |
$162,063 |
|
Present value of the interest PVAF (5%,20) |
$19,350 * 12.46221 | $241,144 |
| Issue price | $403,207 |
Interest = $430,000 * 9% * 6/12
= $19,350
n = (10 * 2) = 20
i = 10% * 6/12
= 5%
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