Sun City issues $41 million of bonds on January 1, 2015 that pay interest semian

Question

Sun City issues $41 million of bonds on January 1, 2015 that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below 1/1/2015 6/30/20151845,000 1845,000 1741 445 1737 821 103,555 107,179 $ 49,755,580 49.652,025 49 544 846 12/31/2015 Required: 1. Were the bonds issued at face amount, a discount, or a premium Premium e) Discount O Face amount 2. What is the original issue price of the bonds? (Enter your answer in whole dollars.) 3. What is the face amount of the bonds? (Enter your answer in whole dollars)

Explanation / Answer

1 a 2 49755580 3 41000000 4 9% (1845000/41000000)*2 0.09 5 7% (1741445/49755580)*2 7.00% 6 73800000 (1845000*40) 73800000

Related Questions

Navigate

• Browse (All)
• Browse S
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.