1. Business
  2. Accounting
  3. on september 30 2018 the san fillipo corporation issued 8...

Question: on september 30 2018 the san fillipo corporation issued 8...

Question details

On September 30, 2018, the San Fillipo Corporation issued 8% stated rate bonds with a face amount of $480 million. The bonds mature on September 30, 2038 (20 years). The market rate of interest for similar bonds was 10%. Interest is paid semiannually on March 31 and September 30.

Determine the price of the bonds on September 30, 2018.

Table values are based on:
n =
i =
Cash Flow Amount Present Value
Interest
Principal
Price of bonds
Solution by an expert tutor
Blurred Solution
This question has been solved
Subscribe to see this solution