Multiple Choice
Nickolas Industries issued bonds with a face value of $12,000,000 and a coupon rate of 5% paid semiannually for 4 years. The market rate of interest is 6%.
How much is the market value of the bond using a financial calculator?
A) $11,578,818
B) $ 9,894,092
C) $11,649,016
D) $13,826,572
Correct Answer:
Verified
Correct Answer:
Verified
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