On September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount of$480 million. The bonds mature on September 30, 2044 (20 years). The market rate of interest forsimilar bonds was 10%. Interest is paid semiannually on March 31 and September 30.Required:Determine the price of the bonds on September 30, 2024.Note: Use tables, Excel, or a financial calculator. Round your final answers to nearest whole dollaramount, not in millions. (FV of $1. PV of $1. FVA of $1. PVA of $1. FVAD of $1 and PVAD of $1)Time values are based on:n=Cash FlowInterestPrincipalPrice of bonds$Amount405%480,000,000Present Value

Bonds payable is a type of instrument where by an amount is borrowed for a fixed period with fixed…

On September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount of $480 million. The bonds mature on September 30, 2044 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.

On September 30, 2024, the Techno Corporation issued 8% stated rate bonds with a face amount of $480 million. The bonds mature on September 30, 2044 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.

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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