Acct504-Hodson Corp. purchased 5, $ 1 000, 7% bonds

by | Mar 18, 2020 | Uncategorized

  

Hodson Corp. purchased 5, $ 1 000, 7% bonds of Simplex Corporation when the market rate of interest was 8%.Interest is paid semiannually on the bonds, and the bonds will mature in six years.

Using the PV function in Excel Superscript ®,compute the price Hodson paid (the present value) on the bond investment.

  

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