Brown Company is about to issue $300,000 of 8-year bonds paying a 12% interest rate with interest payable semiannually. The effective interest rate for such securities is 10%. Below are available time value of money factors that Brown chooses from to calculate compounded interest. To the closest dollar, how much can Brown expect to receive for the sale of these bonds?

Question

Brown Company is about to issue $300,000 of 8-year bonds paying a 12% interest rate with interest payable semiannually. The effective interest rate for such securities is 10%. Below are available time value of money factors that Brown chooses from to calculate compounded interest.  To the closest dollar, how much can Brown expect to receive for the sale of these bonds?

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The Answer of Brown Company is about to issue $300,000 of 8-year bonds paying a 12% interest rate with interest payable semiannually. The effective interest rate for such securities is 10%. Below are available time value of money factors that Brown chooses from to calculate compounded interest.  To the closest dollar, how much can Brown expect to receive for the sale of these bonds?

Brown Company Is About to Issue $300,000 of 8-Year Bonds