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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
Spiller Corp. plans to issue 10%, 15-year, $500,000 par value bonds payable that pay interest semiannually on June 30 and December 31. The bonds are dated December 31, 2011, and are issued on that date. Use these: http://lectures.mhhe.com/connect/0078110874/Images/tableb.1.jpg http://lectures.mhhe.com/connect/0078110874/Images/tableb.3.jpg If the market rate of interest for the bonds is 8% on the date of issue, what will be the total cash proceeds from the bond issue? (Round "PV Factor" to 4 decimal places, intermediate and final answer to the nearest dollar amount. Omit the "$" sign in your response.) -THANKS.
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