Calculate market price of a bond.
On January 1, 2014 Lance Co. issued five-year bonds with a face value of $700,000 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: Calculate the issue price of the bonds.

Question

Calculate market price of a bond.
On January 1, 2014 Lance Co. issued five-year bonds with a face value of $700,000 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:  Calculate the issue price of the bonds.

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The Answer of Calculate market price of a bond.
On January 1, 2014 Lance Co. issued five-year bonds with a face value of $700,000 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:  Calculate the issue price of the bonds.

Calculate Market Price of a Bond