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Compute the selling price of a single bond on december

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Reference no: EM131804125

On December 31, 2013, $720,000 of 10% bonds were issued. The market interest rate at the time of issuance was 12%. The bonds pay interest on June 30 and December 31 and mature in 10 years.

Required:

Compute the selling price of a single $1,000 bond on December 31, 2013.

Note: Round all intermediate calculations to three decimal places, and round your final answer to the nearest cent.

Reference no: EM131804125

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