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Excel Applications for Accounting Principles 4th Edition by Gaylord Smith
Edition 4ISBN: 978-1111581565Excel Applications for Accounting Principles 4th Edition by Gaylord Smith
Edition 4ISBN: 978-1111581565 Exercise 6
PROBLEM DATA
The University Club recently issued $1,500,000 of 10-year, 9% bonds at an effective interest rate of 10%. Bond interest is payable annually.
REQUIREMENT
The bond pricing formula utilizes the NPV (Net Present Value) function on your spreadsheet program. The formula is broken into two parts as identified by the letters in parentheses above the formula. See Appendix A in Excel Quick for a discussion on the NPV function, and then explain the meaning of each part of the formula.
a.
b.
The University Club recently issued $1,500,000 of 10-year, 9% bonds at an effective interest rate of 10%. Bond interest is payable annually.
REQUIREMENT
The bond pricing formula utilizes the NPV (Net Present Value) function on your spreadsheet program. The formula is broken into two parts as identified by the letters in parentheses above the formula. See Appendix A in Excel Quick for a discussion on the NPV function, and then explain the meaning of each part of the formula.
a.
b.
Explanation
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Verified
When working with a spreadsheet, a formu...
Excel Applications for Accounting Principles 4th Edition by Gaylord Smith
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