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How much did teal pay for the bonds

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Reference no: EM132671483

Problem 1: On January 1, 2020, Teal Corporation purchased 325 of the $1,000 face value, 11%, 10-year bonds of Walters Inc. The bonds mature on January 1, 2030, and pay interest annually beginning January 1, 2021. Teal purchased the bonds to yield 11%. How much did Teal pay for the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answer to 0 decimal places, e.g. 458,581.)

Reference no: EM132671483

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