Question

On January 1, 2017, Concord Corporation issued eight year bonds with a face value of $6070000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: 0.627 0.540 0.623 0.534 6.210 Present value of 1 for 8 periods at 6% Present value of 1 for 8 periods at 8% Present value of 1 for 16 periods at 3% Present value of 1 for 16 periods at 4% Present value of annuity for 8 periods at 6% Present value of annuity for 8 periods at 8% Present value of annuity for 16 periods at 3% Present value of annuity for 16 periods at 4% The present value of the principal is 5.747 12.561 11.652 $3241380 O $3277800 O $3781610. $3805890. 9:39 PM

Answer 1

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