On January 1,2018,bonds with a Face Value of $100,000 Were

question 34

Essay

On January 1,2018,bonds with a face value of $100,000 were sold.The bonds mature on January 1,2028.The face interest rate is 6%.The bonds pay interest semiannually on July 1 and January 1.The market rate of interest is 10%.What is the market price of the bonds on January 1,2018? 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 20 periods at 3% is 0.554.The present value of an ordinary annuity of $1 for 20 periods at 3% is 14.877.(Please show all work and round your final answer to the nearest dollar. )

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Binet and Simon

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