Desmond Corp. purchased 10, $1,000, 7% bonds of Geotherm Corporation when the market rate of interest was 6%. Interest is paid semiannually on the bonds, and the bonds will mature in eight years. Using the PV function in Excel, compute the price Desmond paid (the present value) on the bond investment.
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Desmond Corp. purchased 10, $1,000, 7% bonds of Geotherm Corporation when the market rate of interest was 6%. Interest is paid semiannually on the…
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