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Discuss bonds are issued to yield the market interest rate

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How can i solve the fallowing question without using the pv function in excel?

Issued 150,000 of 6.5% 10 year bonds. the bonds are dated and sold January 1 2015. interest payments are January 1 and July 1. the bonds are issued to yield the market interest rate of 7%. Uses the effective interest method.

Reference no: EM131745843

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