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Calculate the selling price for each bond issue

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Question - Issue Price - 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

Use the appropriate present value table: PV of $1 and PV of Annuity of $1.

Required - 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: EM132828144

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