Calculate the selling price for each bond issue

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The following terms relate to independent bond issues:

1. 680 bonds; $1,000 face value; 8% stated rate; 5 years; annual interest payments
2. 680 bonds; $1,000 face value; 8% stated rate; 5 years; semiannual interest payments
3. 790 bonds; $1,000 face value; 8% stated rate; 10 years; semiannual interest payments
4. 1,900 bonds; $500 face value; 12% stated rate; 15 years; semiannual interest payments

Problem 1: Assuming the market rate of interest is 10%, calculate the selling price for each bond issue. If required, round your intermediate calculations and final answers to the nearest dollar.

 

Reference no: EM132793372

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