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%.
How much did these bonds sell for on July 1, 2005?© BrainMass Inc. brainmass.com June 3, 2020, 6:58 pm ad1c9bdddf
This solution provides assistance determining how much the bonds sold for on July 1st, 2005.