17. On January 01, 2019, IDAMAY KO NA RIN PO SI PAPA CO. issued 10-year bonds with a face amount of P1 million and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%.The total issue price (rounded to the nearest P100) of the bonds was:
17. On January 01, 2019, IDAMAY KO NA RIN PO SI PAPA CO. issued 10-year bonds with a face amount of P1 million and a stated interest rate of 8% payable annually on January 1. The bonds were priced to yield 10%.The total issue price (rounded to the nearest P100) of the bonds was:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
![17. On January 01, 2019,
IDAMAY KO NA RIN PO SI PAPA
CO. issued 10-year bonds with
a face amount of P1 million and
a stated interest rate of 8%
payable annually on January 1.
The bonds were priced to yield
10%.The total issue price
(rounded to the nearest P100)
of the bonds was:
a. P1,000,000
O b. P980,
c. P965,800
O d. P877,100](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe50afc86-5a12-45a6-9f02-e8c6d43d0b63%2F39a90b82-affc-49cf-9cfe-b6505f57abaa%2Frs9gi1r_processed.png&w=3840&q=75)
Transcribed Image Text:17. On January 01, 2019,
IDAMAY KO NA RIN PO SI PAPA
CO. issued 10-year bonds with
a face amount of P1 million and
a stated interest rate of 8%
payable annually on January 1.
The bonds were priced to yield
10%.The total issue price
(rounded to the nearest P100)
of the bonds was:
a. P1,000,000
O b. P980,
c. P965,800
O d. P877,100
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