On January 1, 2020, Bonds with a Face Value of $94,000

question 43

Multiple Choice

On January 1, 2020, bonds with a face value of $94,000 were sold. The bonds mature on January 1, 2030. The face interest rate is 8% annually. The bonds pay interest semiannually on July 1 and
January 1. The market rate of interest is 10% annually. What is the market price of the bonds? The present value of $1 for 20 periods at 5% is 0.377. The present value of an ordinary annuity of
$1 for 20 periods at 5% is 12.462. The present value of $1 for 10 periods at 10% is 0.463. The present value of an ordinary annuity of $1 for 10 periods at 10% is 6.145. (Round your final
Answer to the nearest dollar.)

• A) $94,000
• B) $66,627
• C) $82,295
• D) $97,760

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Definitions:

Cellular Respiration

The metabolic process by which cells convert sugars into energy in the form of ATP, with the release of CO2.

NAD+

Nicotinamide adenine dinucleotide, a coenzyme found in all living cells that is involved in redox reactions, carrying electrons from one reaction to another.

ATP

Adenosine Triphosphate, a molecule that stores and transfers energy within cells for metabolism.

Cellular Reactions

Processes that occur within cells, enabling them to grow, reproduce, maintain their structures, and respond to their environments.