See the present and future value tables from the appendix, Accounting Basics

See the present and future value tables from the appendix

Computing the Issue Price of Bonds

See the Present and Future Value Tables from the Appendix for help in solving this item:

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Compute the issue price of each of the following bonds. Round your answers to the nearest dollar.

a. $10,000,000 face value, zero coupon bonds due in 20 years, priced on the market to yield 8% compounded semiannually.

b. $10,000,000 face value, serial bonds repayable in 40 equal semiannual installments of $500,000, which includes coupon payments and repayment of principal, for 20 years, priced on the market to yield 6% compounded annually.

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Accounting Basics: See the present and future value tables from the appendix

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