Selling Price of a Bond and Present Value of 1 Factor On December 31, 2007, $490,000of 9% bonds were

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Selling Price of a Bond and Present Value of 1 Factor

On December 31, 2007, $490,000of 9% bonds were issued The
market interest rate at the time of issuance was 6% The bonds pay interest on
June 30 and December 31 and mature in 12 years

Compute the selling price of a single $1000 bond on
December, 31 2007

What is the “present value of 1 factor”?

 
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