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    Akers Company: selling their bonds

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    Akers Company sold bonds on July 1, 2005, with a face value of $100,000. These bonds are due in 10 years. The state's annual interest rate is 6% per year, payable semiannually on June 30 and December 31. These bonds were sold to yield 8%.

    Required:

    How much did these bonds sell for on July 1, 2005?

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    https://brainmass.com/business/convertible-bonds/akers-company-selling-bonds-81930

    Solution Summary

    This solution provides assistance determining how much the bonds sold for on July 1st, 2005.

    $2.19

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