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Ellis issues 6.5%, five year bonds dated January 1, 2015, with a $460,00 par value. The bonds pay interest on June 30 and December 31 and are issued at a price of $469,812. The annual market rate is 6% on the issue date. (Table B.1, Table B.2, Table B.3, and Table B.4) (use appropriate factors with tables provided.)
Use the market rate at issuance to compute the present value of the remaining cash flows for these bonds on December 31, 2017. (round table value to 4 decimal places, and use rounded value calculations.)
Table values based on:
n=
i=
Cash Flow Table Value Amount Present Value
Par (maturity) Value
Interest (annuity)
Price bonds
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