On August 1, 2002, Bonnie purchased $15,000 of Huber Co.?s 10%, 20-year bonds at face value. Huber Co. has paid the semiannual interest due on the bonds regularly. On August 1, 2010, market rates of interest had fallen to 8%, and Bonnie is considering selling the bonds.
Using the present value tables in Chapter 6, calculate the market value of Bonnie?s bonds on August 1, 2010.
This question was answered on: Jul 11, 2017
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