Using the pv function in excel compute the price hodson paid

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Reference no: EM131903427

Hodson Corp. purchased 10, 1,0?00, 3% bonds of Solar Corporation when the market rate of interest was 14%. Interest is paid semiannually on the bonds, and the bonds will mature in six years.

Using the PV function in Excel compute the price Hodson paid? (the present? value) on the bond investment.?

(Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest? cent.)

Reference no: EM131903427

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