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Atlantic, Inc., plans to issue $700,000 of nine percent bonds that will pay interest semiannually and...

Atlantic, Inc., plans to issue $700,000 of nine percent bonds that will pay interest semiannually and mature in ten years. Assume that the effective interest is eight percent per year compounded semiannually. Calculate the selling price of the bonds.

Use financial calculator or Excel to calculate answers. Round answers to the nearest whole number.

Selling price of bonds is $___

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Answer #1

Answer: Selling Price of bonds is $747,566

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