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Calculate the issue price of the bonds without prejudice to

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Reference no: EM13390708

Present value of 1 for 10 periods at 10% .386

Present value of 1 for 10 periods at 12% .322

Present value of 1 for 20 periods at 5% .377

Present value of 1 for 20 periods at 6% .312

Present value of annuity for 10 periods at 10% 6.145

Present value of annuity for 10 periods at 12% 5.650

Present value of annuity for 20 periods at 5% 12.462

Present value of annuity for 20 periods at 6% 11.470

Instructions

(a) Calculate the issue price of the bonds.

(b) Without prejudice to your solution in part (a), assume that the issue price was $884,000. Prepare the amortization table for 2008, assuming that amortization is recorded on interest payment dates.

Reference no: EM13390708

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