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Find the present value of the price of the bond

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Question - A company issues $100,000 of 12% 6-year bonds that pay interest semiannually. The bonds are issue when the market rate is 10%. The present value of an annuity table indicates that the present value factor for 5% at 12 periods is 8.8633. The present value of 1 table indicates that the present value factor for 5% at 12 periods is 0.5568. Find the present value of the price of the bond rounded to the nearest whole dollar?

Reference no: EM132763662

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