Calculate the issue price of the bonds for swifty ltd

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On May 1, 2017, Swifty Ltd. issued a series of bonds in order to raise money for some upcoming projects. The bonds had a face value of $5,380,000 and matured in 10 years. Interest was payable at a face rate of 5% each April 30 and October 31. The bonds were issued to yield 5.5%.

Problem 1: Calculate the issue price of the bonds.

Reference no: EM132700805

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