On December 31, 2018, when the market interest rate is 8%, O'Brien Realty issues $ 300...
On December 31, 2018, when the market interest rate is 8%, O'Brien Realty issues $ 300 comma 000 of 5.25%, 10-year bonds payable. The bonds pay interest semiannually. Determine the present value of the bonds at issuance. (Round all currency amounts to the nearest whole dollar.)
Homework Answers
Present value of the bonds = Present value of Interest PVIAF (4%, 20)+ Present value of maturity PVIF (4%, 20)
= 300000*5.25%*6/12*13.590 + 300000*0.4564
= $243941
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On December 31, 2018, when the market interest rate is 8%,
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