On January 1, 2020, Ellison Co. issued eight-year bonds with a face value of $4,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6%.... .627 Present value of 1 for 8 periods at 8%....... periods at 3%.. 4%... .540 Present value of 1 for 16 .623 Present value of 1 for 16 periods at .534 Present value of annuity for 8 periods at 6%.... 6.210 5.747 Present value of annuity for 16 Present value of annuity for 8 periods at 8%...... periods at 3%....... 11.652 Compute the present value of the interest payments. . 12.561 Present value of annuity for 16 periods at 4%.....

On January 1, 2020, Ellison Co. issued eight-year bonds with a face value of $4,000,000 and a stated interest rate of 6%, payable semiannually on June 30 and December 31. The bonds were sold to yield 8%. Table values are: Present value of 1 for 8 periods at 6%.... .627 Present value of 1 for 8 periods at 8%....... periods at 3%.. 4%... .540 Present value of 1 for 16 .623 Present value of 1 for 16 periods at .534 Present value of annuity for 8 periods at 6%.... 6.210 5.747 Present value of annuity for 16 Present value of annuity for 8 periods at 8%...... periods at 3%....... 11.652 Compute the present value of the interest payments. . 12.561 Present value of annuity for 16 periods at 4%.....

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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