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Determine the purchase price

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Question - Determine the purchase price of the following debt securities and compute for any premium or discount:

1. 8% P6,000,000 face value, 5-year bond dated June 30, 2020 for purchase on July 1, 2020, interest payments are June 30 and December 31.

2. 10% P5,000,000 face value, 8-year bond dated June 30, 2020 for purchase on July 1, 2020, interest payment is June 30.

The market rate of interest on July 1, 2020 is 8%.

Reference no: EM132817367

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