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Determine the present value of the interest

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On January 1, 2017, MANDU Company issued eight-year bonds with a face value of P2,000,000 and a stated interest rate of 6% payable semiannually on June 30 and December 31. The bonds were sold to yield 8%.

Problem a: Based on the above, determine the following:

1. The present value of the principal
2. The present value of the interest
3. The issue price of the bonds

Reference no: EM132912634

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