On october 1 2012 joy co issued 500 five-year bonds with a

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On October 1, 2012 Joy Co. issued 500 five-year bonds with a face value of $ 1,000 each and a stated interest rate of 6% payable semiannually. Calculate the price of the bonds under each of the following market interest rate condition.

1. Market rate is 6%

2. Market rate is 4%

3. Market rate is 8%

Reference no: EM13590919

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