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a. Find the price for the bond in the following table: (Round to the nearest cent.) Par Value $1,000.00 Years to Maturity 15
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Answer #1

Solution:

Computation of bond price
Table values are based on:
n= 15
i= 10.00%
Cash flow Table Value Amount Present Value
Par (Maturity) Value 0.23939 $1,000.00 $239
Interest (Annuity) 7.60608 $80.00 $608
Price of bonds $848
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