Time Value of Money Tables
Use the information provided in the time value of money tables in the text to answer the question(s) that follow.
-
Refer to the Time Value of Money Tables. Homestead Company issued $1,000,000, 7-year, 8%, bonds with interest payable semiannually. The market rate was 6%. The issuance price of the bonds is:
A) $1,111,560.
B) $1,000,000.
C) $1,151,480.
D) $1,112,944.

Question

Time Value of Money Tables 
Use the information provided in the time value of money tables in the text to answer the question(s) that follow.
-
Refer to the Time Value of Money Tables. Homestead Company issued $1,000,000, 7-year, 8%, bonds with interest payable semiannually. The market rate was 6%. The issuance price of the bonds is:
A) $1,111,560.
B) $1,000,000.
C) $1,151,480.
D) $1,112,944.

Quizplus · Accepted Answer

The Answer of Time Value of Money Tables 
Use the information provided in the time value of money tables in the text to answer the question(s) that follow.
-
Refer to the Time Value of Money Tables. Homestead Company issued $1,000,000, 7-year, 8%, bonds with interest payable semiannually. The market rate was 6%. The issuance price of the bonds is:
A) $1,111,560.
B) $1,000,000.
C) $1,151,480.
D) $1,112,944.