Sand Explorers Issues Bonds Due in 10 Years with a Stated

question 244

Multiple Choice

Sand Explorers issues bonds due in 10 years with a stated interest rate of 7% and a face value of $200,000. Interest payments are made semi-annually. The market rate for this type of bond is 8%. Using present value tables, calculate the issue price of the bonds.

• A) $139,609.
• B) $186,410.
• C) $214,877.
• D) $200,000.

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