On April 1, 2019 SanaPerfect Co. purchased 9%, 3-year, P3,000,000 face value serial bonds at a price that will vield an effective rate of 7.6%. P1,000,000 face value bonds mature every Apr. 1 starting Apr. 1, 2020. Interest is payable every April 1 and October 1. (Use continuous factors and round off all computations to the nearest peso.) 1. What is the total present value of the bonds on April 1, 2019?

On April 1, 2019 SanaPerfect Co. purchased 9%, 3-year, P3,000,000 face value serial bonds at a price that will vield an effective rate of 7.6%. P1,000,000 face value bonds mature every Apr. 1 starting Apr. 1, 2020. Interest is payable every April 1 and October 1. (Use continuous factors and round off all computations to the nearest peso.) 1. What is the total present value of the bonds on April 1, 2019?

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter13: Investments And Long-term Receivables

Section: Chapter Questions

Problem 5RE

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