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ACC 304 Final Exam Part 2 (2 Sets) 1
1) On January 1, 2015, Piper Co. issued ten-year bonds with a
face value of $3,000,000 and a stated interest rate of 10%, payable
semiannually on June 30 and December 31. The bonds were sold to
yield 12%. Table values are:
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