Table values are based on: | |||
n= | 20 | ||
i= | 4.5% | ||
Cash flow | Amount | Present value | |
Interest | 2840000 | 36942550 | =2840000*13.00794 |
Principal | 71000000 | 29439440 | =71000000*0.41464 |
Price of Bonds | 66381990 | ||
PVA of $1 = (1-(1.045)^-20)/0.045 = 13.00794 | |||
PV of $1 = 1/1.045^20 = 0.41464 |
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