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Business, 03.12.2019 06:31 emmaja121003

Calculate the market price of a bond.( 5 points)
on january 1, 2020 lance co. issued five-year bonds with a face value of $1,000,000 and a stated interest rate of 12% payable semiannually on july 1 and january 1. the bonds were sold to yield 10%. present value table factors are:
present value of 1 for 5 periods at 10% .62092
present value of 1 for 5 periods at 12% .56743
present value of 1 for 10 periods at 5% .61391
present value of 1 for 10 periods at 6% .55839
present value of an ordinary annuity of 1 for 5 periods at 10% 3.79079
present value of an ordinary annuity of 1 for 5 periods at 12% 3.60478
present value of an ordinary annuity of 1 for 10 periods at 5% 7.72173
present value of an ordinary annuity of 1 for 10 periods at 6% 7.36009
calculate the issue price of the bonds.

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Calculate the market price of a bond.( 5 points)
on january 1, 2020 lance co. issued five-yea...

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