Solved: Compute the selling price of a bond, Accounting Basics

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Compute the selling price of a bond

Problem:

On December 31, 2007, $490,000of 9% bonds were issued. The market interest rate at the time of issuance was 6%. The bonds pay interest on June 30 and December 31 and mature in 12 years.

Compute the selling price of a single $1000 bond on December, 31 2007.

What is the "present value of 1 factor"?

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Accounting Basics: Compute the selling price of a bond

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Accounting Basics: Compute the selling price of a bond

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