In: Accounting
1. |
Determine the present value of five-year bonds payable with face value of $91,000 and stated interest rate of 14%, paid semiannually. The market rate of interest is 14% at issuance. |
2. |
Same bonds payable as in Requirement 1, but the market interest rate is 16%. |
3. |
Same bonds payable as in Requirement 1, but the market interest rate is 10%. |