100% Esai, Mon 11:34 AM Help nt/takeAssignmentMain.do?invok Pinder Co. produces

Question

100% Esai, Mon 11:34 AM Help nt/takeAssignmentMain.do?invok Pinder Co. produces and sells high-quality video equipment. To finance its operations, Pinder Co. issued $25,000,000 of five- year, 7% bonds, with interest payable semiannually, at a market (effective) interest rate of 9%. Determine the present value of the bonds payable, using the present value tables in Exhibit 8 and Exhibit 10. Round to the nearest dollar $23,021,130 X Remember, the selling price of a bond ce of a bond is the sum of the present values of, the face amount of the bonds due at the maturity date and the

Explanation / Answer

1 using excel pv function

no of period 10 rate 4.50% PMT 875000 FV 25000000 PV $23,021,820.46

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