Determine the price of the bonds on December

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Question - On December 31, 2021, Interlink Communications issued 4% stated rate bonds with a face amount of $114 million. The bonds mature on December 31, 2051. Interest is payable annually on each December 31, beginning in 2022. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Determine the price of the bonds on December 31, 2021, assuming that the market rate of interest for similar bonds was 5%.

Reference no: EM132904128

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