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Determine the issue price of the bonds if the market rate

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Hosmer Corporation issued $120,000 par? value, 8%?, 4?-year bonds? (i.e., there were 120 of $1,000 par value bonds in the? issue). Interest is payable semiannually each January 1 and July 1 with the first interest payment due at the end of the period on July 1.

Determine the issue price of the bonds if the market rate of interest is 10%. Determine the issue price of the bonds.

?(Use the present value and future value? tables, the formula? method, a financial? calculator, or a spreadsheet for your calculations. If using present and future value tables or the formula? method, use factor amounts rounded to five decimal? places, X.XXXXX. Round your final answers to the nearest whole? dollar.)

The issue price of the bonds is $

Reference no: EM132315606

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