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Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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
Transcribed Image Text:Exercise 7-17 (Algo) Bonds payable-calculate market value LO 7-8
On August 1, 2014, Bonnie purchased $23,500 of Huber Company's 10%, 15-year bonds at face value. Huber Company has paid the
semiannual interest due on the bonds regularly. On August 1, 2022, market rates of interest had fallen to 8%, and Bonnie is
considering selling the bonds. Use the present value tables (Table 6-4 and Table 6-5)
Required:
Calculate the market value of Bonnie's bonds on August 1, 2022.
Note: Round your PV factors to 4 decimal places. Round your answer to 2 decimal places.
Market value
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