Corp. purchased
ten
$9,000,
5%
bonds of
Voltgo
Corporation when the market rate of interest was
4%.
Interest is paid annually on the bonds, and the bonds will mature in
eight
years.
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Requirement
Compute the price
Brinkman
paid (the present value) on the bond investment.
Question content area bottom
Part 1
Brinkman
paid
$enter your response here
on the bond investment. (Hold all decimals for interim calculations, round your final answer to the nearest whole dollar.)
| Present Value of $1 | |||||||||
| Period | 4% | 5% | 6% | 7% | 8% | 10% | 12% | 14% | 16% |
| 1 | 0.962 | 0.952 | 0.943 | 0.935 | 0.926 | 0.909 | 0.893 | 0.877 | 0.862 |
| 2 | 0.925 | 0.907 | 0.89 | 0.873 | 0.857 | 0.826 | 0.797 | 0.769 | 0.743 |
| 3 | 0.889 | 0.864 | 0.84 | 0.816 | 0.794 | 0.751 | 0.712 | 0.675 | 0.641 |
| 4 | 0.855 | 0.823 | 0.792 | 0.763 | 0.735 | 0.683 | 0.636 | 0.592 | 0.552 |
| 5 | 0.822 | 0.784 | 0.747 | 0.713 | 0.681 | 0.621 | 0.567 | 0.519 | 0.476 |
| 6 | 0.79 | 0.746 | 0.705 | 0.666 | 0.63 | 0.564 | 0.507 | 0.456 | 0.41 |
| 7 | 0.76 | 0.711 | 0.665 | 0.623 | 0.583 | 0.513 | 0.452 | 0.4 | 0.354 |
| 8 | 0.731 | 0.677 | 0.627 | 0.582 | 0.54 | 0.467 | 0.404 | 0.351 | 0.305 |
| 9 | 0.703 | 0.645 | 0.592 | 0.544 | 0.5 | 0.424 | 0.361 | 0.308 | 0.263 |
| 10 | 0.676 | 0.614 | 0.558 | 0.508 | 0.463 | 0.386 | 0.322 | 0.27 | 0.227 |
| 11 | 0.65 | 0.585 | 0.527 | 0.475 | 0.429 | 0.35 | 0.287 | 0.237 | 0.195 |
| 12 | 0.625 | 0.557 | 0.497 | 0.444 | 0.397 | 0.319 | 0.257 | 0.208 | 0.168 |
| 13 | 0.601 | 0.53 | 0.469 | 0.415 | 0.368 | 0.29 | 0.229 | 0.182 | 0.145 |
| 14 | 0.557 | 0.505 | 0.442 | 0.388 | 0.34 | 0.263 | 0.205 | 0.16 | 0.125 |
| 15 | 0.555 | 0.481 | 0.417 | 0.362 | 0.315 | 0.239 | 0.183 | 0.14 | 0.108 |
| 16 | 0.534 | 0.458 | 0.394 | 0.339 | 0.292 | 0.218 | 0.163 | 0.123 | 0.093 |
| 17 | 0.513 | 0.436 | 0.371 | 0.317 | 0.27 | 0.198 | 0.146 | 0.108 | 0.08 |
| 18 | 0.494 | 0.416 | 0.35 | 0.296 | 0.25 | 0.18 | 0.13 | 0.095 | 0.069 |
| 19 | 0.475 | 0.396 | 0.331 | 0.277 | 0.232 | 0.164 | 0.116 | 0.083 | 0.06 |
| 20 | 0.456 | 0.377 | 0.312 | 0.258 | 0.215 | 0.149 | 0.104 | 0.073 | 0.051 |
| Period | 4% | 5% | 6% | 7% | 8% | 10% | 12% | 14% | 16% |
| 1 | 0.962 | 0.952 | 0.943 | 0.935 | 0.926 | 0.909 | 0.893 | 0.877 | 0.862 |
| 2 | 1.886 | 1.859 | 1.833 | 1.808 | 1.783 | 1.736 | 1.69 | 1.647 | 1.605 |
| 3 | 2.775 | 2.723 | 2.673 | 2.624 | 2.577 | 2.487 | 2.402 | 2.322 | 2.246 |
| 4 | 3.63 | 3.546 | 3.465 | 3.387 | 3.312 | 3.17 | 3.037 | 2.914 | 2.798 |
| 5 | 4.452 | 4.329 | 4.212 | 4.1 | 3.993 | 3.791 | 3.605 | 3.433 | 3.274 |
| 6 | 5.242 | 5.076 | 4.917 | 4.767 | 4.623 | 4.355 | 4.111 | 3.889 | 3.685 |
| 7 | 6.002 | 5.786 | 5.582 | 5.389 | 5.206 | 4.868 | 4.564 | 4.288 | 4.039 |
| 8 | 6.733 | 6.463 | 6.21 | 5.971 | 5.747 | 5.335 | 4.968 | 4.639 | 4.344 |
| 9 | 7.435 | 7.108 | 6.802 | 6.515 | 6.247 | 5.759 | 5.328 | 4.946 | 4.608 |
| 10 | 8.111 | 7.722 | 7.36 | 7.024 | 6.71 | 6.145 | 5.65 | 5.216 | 4.833 |
| 11 | 8.76 | 8.306 | 7.887 | 7.499 | 7.139 | 6.495 | 5.938 | 5.453 | 5.029 |
| 12 | 9.385 | 8.863 | 8.384 | 7.943 | 7.536 | 6.814 | 6.194 | 5.66 | 5.197 |
| 13 | 9.986 | 9.394 | 8.853 | 8.358 | 7.904 | 7.103 | 6.424 | 5.842 | 5.342 |
| 14 | 10.563 | 9.899 | 9.295 | 8.745 | 8.244 | 7.367 | 6.628 | 6.002 | 5.468 |
| 15 | 11.118 | 10.38 | 9.712 | 9.108 | 8.559 | 7.606 | 6.811 | 6.142 | 5.575 |
| 16 | 11.652 | 10.838 | 10.106 | 9.447 | 8.851 | 7.824 | 6.974 | 6.265 | 5.669 |
| 17 | 12.166 | 11.274 | 10.477 | 9.763 | 9.122 | 8.022 | 7.12 | 6.373 | 5.749 |
| 18 | 12.659 | 11.69 | 10.828 | 10.059 | 9.372 | 8.201 | 7.25 | 6.467 | 5.818 |
| 19 | 13.134 | 12.085 | 11.158 | 10.336 | 9.604 | 8.365 | 7.366 | 6.55 | 5.877 |
| 20 | 13.59 | 12.462 | 11.47 | 10.594 | 9.818 | 8.514 | 7.469 | 6.623 | 5.929 |
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