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On January 1, 2012, Hutton Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually onJune 30 and December 31.

05 / 03 / 2018 Assignment

This paper circulates around the core theme of On January 1, 2012, Hutton Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually onJune 30 and December 31. together with its essential aspects. It has been reviewed and purchased by the majority of students thus, this paper is rated 4.8 out of 5 points by the students. In addition to this, the price of this paper commences from £ 45. To get this paper written from the scratch, order this assignment now. 100% confidential, 100% plagiarism-free.

Use the following information for questions 7 through 9:

On January 1, 2012, Hutton Co. issued eight-year bonds with a face value of $1,000,000 and a stated interest rate of 6%, payable semiannually onJune 30 and December 31. The bonds were sold to yield 8%. Table values are:

Present value of 1 for 8 periods at 6% .627

Present value of 1 for 8 periods at 8% .540

Present value of 1 for 16 periods at 3% .623

Present value of 1 for 16 periods at 4% .534

Present value of annuity for 8 periods at 6% 6.210

Present value of annuity for 8 periods at 8% 5.747

Present value of annuity for 16 periods at 3% 12.561

Present value of annuity for 16 periods at 4% 11.652

7. The present value of the principal is

a. $534,000.

b. $540,000.

c. $623,000.

d. $627,000.

8. The present value of the interest is

a. $344,820.

b. $349,560.

c. $372,600.

d. $376,830.

9. The issue price of the bonds is

a. $883,560.

b. $884,820.

c. $889,560.

d. $999,600.

10. The term used for bonds that are unsecured as to principal is

a. junk bonds.

b. debenture bonds.

c. indebenture bonds.

d. callable bonds.


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