Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN: 9781260013924
Author: Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher: Mcgraw-hill Education,
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Spiller Corporation plans to issue 10%, 8-year, $600,000 par value bonds payable that pay interest semiannually on June 30 and
December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of
$1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest
whole dollar.)
If the market rate of interest for the bonds is 8% on the date of issue, what will be the total cash proceeds from the bond issue?
Table Values are Based on:
Cash Flow
Present (maturity) value
Interest (annuity)
Total cash proceeds
n =
=!
Table Value
Amount
Present Value
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Transcribed Image Text:Spiller Corporation plans to issue 10%, 8-year, $600,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated January 1 of the current year and are issued on that date. (PV of $1, FV of $1, PVA of $1, and FVA of $1) (Use appropriate factor(s) from the tables provided. Round your "Table value" to 4 decimal places and final answers to nearest whole dollar.) If the market rate of interest for the bonds is 8% on the date of issue, what will be the total cash proceeds from the bond issue? Table Values are Based on: Cash Flow Present (maturity) value Interest (annuity) Total cash proceeds n = =! Table Value Amount Present Value
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