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Calculate the bond issue price by using financial calculator

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Reference no: EM132472681

Point 1: Martinez Corporation issues $450,000 of 11% bonds that are due in 8 years and pay interest semi-annually. At the time of issue, the market rate for such bonds is 10%.

Question 1: Calculate the bonds' issue price by using (1) factor , a financial calculator, or xcel function PV. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answer to 0 decimal places, e.g. 5,275.)

Reference no: EM132472681

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