Computing Issue Prices of Bonds for Three Cases
LaTanya Corporation is planning to issue $100,000. seven-year. 8 percent bonds. Interest is payable each December 31. All of the bonds will be sold on January 1. 2011.
Required:
Compute the issue (sale) price on January 1, 2011. for each of the following independent cases (show computations):
a. Case A: Market (yield) rate, 8 percent.
b. Case B: Market (yield) rate, 6 percent.
c. Case C: Market (yield) rate, 10 percent.
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