On april 15 2009 melissa purchased 30000 of verbecke cos 12

Reference no: EM13602524

On April 15, 2009, Melissa purchased $30,000 of Verbecke Co.'s 12%, 20-year bonds at face amount. Verbecke Co. has paid interest due on the bonds regularly. On April 15, 2013, market interest rates had risen to 14% and Melissa is considering selling the bonds.

a. Using the present value tables in Chapter 6 of the textbook, calculate the market value of Melissa's bonds on April 15, 2013.

b. How would any premium or discount be accounted for over the remaining term of the bonds?

Reference no: EM13602524

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