Just for Lunch plans to issue 20-year bonds with a face value of $7,200,000 and a coupon rate of 5.5%. The market rate of interest is 4%. Interest payments will be made semi-annually.
Compute the market value of the bonds.

Question

Just for Lunch plans to issue 20-year bonds with a face value of $7,200,000 and a coupon rate of 5.5%. The market rate of interest is 4%. Interest payments will be made semi-annually. 
Compute the market value of the bonds.

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The Answer of Just for Lunch plans to issue 20-year bonds with a face value of $7,200,000 and a coupon rate of 5.5%. The market rate of interest is 4%. Interest payments will be made semi-annually. 
Compute the market value of the bonds.

Just for Lunch Plans to Issue 20-Year Bonds with a Face