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21-12-2022
Business

Answered

Seaside industries issues a bond with a stated interest rate of 10%, face amount of $50,000, and due in 5 years. Interest payments are made semiannually. The market rate for this type of bond is 12%. What is the issue price of the bond (rounded to nearest whole dollar)? (use pv of $1 and pva of $1).

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