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Determine the issuance price of the bonds

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Question - Waterhouse Company plans to issue bonds with a face value of $506,000 and a coupon rate of 10 percent. The bonds will mature in 10 years and pay interest semiannually every June 30 and December 31. All of the bonds are sold on January 1 of this year. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use the appropriate factor(s) from the tables provided. Round your final answer to whole dollars.)

Determine the issuance price of the bonds assuming an annual market rate of interest of 8 percent.

Reference no: EM132177676

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