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Ultimate Butter Popcorn issues 7%, 20-year bonds with a face amount of $47,000. The market interest rate for bonds of similar risk and maturity is 6%. Interest is paid semiannually.
Question 1: At what price will the bonds issue? (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Do not round interest rate factors. Round "Market interest rate" to 1 decimal place.)
Bond Characteristics Amount
Face amount$ 47,000
Interest payment$
1,645
Market interest rate 3.0%
Periods to maturity 40
Issue price ..?
How to calculate the issue price ?
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How much did Janavee bid on the job
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