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Calculate the issue price of the bonds

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Question - Hillside Excursions issues bonds due in 10 years with a stated interest rate of 7% and a face value of $200,000. Interest payments are made semi-annually. The market rate for this type of bond is 6%. Using a financial calculator or Excel, calculate the issue price of the bonds.

a) $214,877

b) $200,000

c) $163,200

d) $186,410

Reference no: EM132432042

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