INTEREST TABLES AND THEIR CONTENTS . FUTURE VALUE OF 1 TABLE. Contains the amoun

Question

INTEREST TABLES AND THEIR CONTENTS . FUTURE VALUE OF 1 TABLE. Contains the amounts to which 1 will accumulate if deposited now at a specified rate and left for a specified number of periods (Table 6.1). Table 6.1 FUTURE VALUE OF 1 (FUTURE VALUE OF A SINGLE SUM) (a) Periods 2% 29,% 3% 02000 102500 103000 104000 10000 1.06000 2 1.04040 105063 106090 108160 110250 1.12360 3 106121 1.07689 109273 1.12486.15763 119102 08243 1038 112551 116986 12155 1.26248 L10408 1.13141 115927 121665 1.27628 133823 12616115969 1.19405 126532 134010 141852 L14869 1.18869 122987 131593140710 150163 17166 121840 126677 136857 147746 1.59385 L19509 1.24886 1.30477 14233 5133 168948 21899 128008 134392 148024 162889 1.79085 124337 131209 138423 153945 1.71034 1.89830 1.26824 134489 142576 160103 1.79586 201220 129361 13785 146853 66507 188565 2.13293 31948 141297 15129 1.73168 197993 226090 34587 1.44830 155797180094 2.07893 239656 37279 14845116047 187298 2.18287 2 54035 140024 152162 1652SS 194790 229202 269277 42825 5966 1.70243 202582 24066 285434 1.45681 159865 175351 2.10685 2.52695 302560 20 148595 163862 1.806 2.19112 265330 3.20714 51567 167958 186029 227877 2.78596 3.39956 154598 1.72157 191610 236992 2.92526 30354 157690 7646 197359 246472 3.07152 3.81975 160844 1.80873 203279 256330 3.22510 40489 64061185394 209378 266584 3.38635 429187 26 167342 1.90029 215659 2.772473.55567 454938 1.70689 194780 222129 288337 3.73346 4.82235 174102 1.99650 228793 299870 3.92013 5.11169 177584 204641 235657 3,11865 4.11614 541839 12 13 14 15 16 17 19 21 27 28

Explanation / Answer

Par value of Bonds 3454600 Cash interest paid (3454600*10%*6/12) 172730 Annuity PVF for 30 periods at 4% 17.29203 PVf at 4% for 30th period 0.30832 Present Value of Bonds payable 2986852.342 Present Value of cash interest 1065122.272 Issue price of bonds 4051974.614 Therefore, Selling price of Bonds 4051975

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