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Citywide Company issues bond with par value of $150,000 on their stated issued date. the bonds mature in five years and pay 10% annual interest in...
Citywide Company issues bond with par value of $150,000 on their stated issued date. the bonds mature in five years and pay 10% annual interest in semiannual payments. On the issue date, the annual market rate for the bond is 8%.
(a) Use the interest rate given to determine whether the bonds are issued at par, at a discount, or at a premium (b) compute the price of the bonds as of their issue date