The Face Value Is $81,000,the Stated Rate Is 10%,and the Term

question 27

Multiple Choice

The face value is $81,000,the stated rate is 10%,and the term of the bond is eight years.The bond pays interest semiannually.At the time of issue,the market rate is 8%.What is the present value of the bond at the market rate?
Present value of $1:

Present value of annuity of $1:

• A)$90,445
• B)$47,191
• C)$43,141
• D)$83,754

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