Calculate the price of the bond

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Reference no: EM131031047

Problem:

Richmond Company issues bonds with a face value of $500,000 that pay 6% interest semiannually and mature in 10 years. Calculate the price of the bond if the market interest rate is 6%.

N (period of time)
I (Interest)
PV (Present Value
FV (Future Value)
PMT (Annuity)

Required:

1. Calculate the price of the bond if the market interest rate is 4%.

Reference no: EM131031047

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