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Calculate the periodic cost of the debt

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Question - To raise $4,000,000 to expand into new markets, a very successful laptop manufacturing company issued bonds in the market with a coupon rate of 7.50%, paying interest every 6 months, and redeemable in 16 years. They established a sinking fund to retire this debt on maturity and made equal deposits into the fund at the end of every half-year.

a. If the fund was earning 3.90% compounded semi-annually, calculate the periodic cost of the debt.

b. Calculate the book value of the debt after 12 years.

Reference no: EM133050886

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