Maurice Tutor

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    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

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    Phoniex University
    Oct-2001 - Nov-2016

Category > Management Posted 25 Oct 2017 My Price 4.00

areas of Morgantown

To provide infrastructure in the outlying areas of Morgantown, West Virginia, the city council issued 30-year bonds with a face value of $25 million. The bond coupon rate was set at 5% per year, payable semiannually. Because the market interest rate increased immediately before the bonds were sold, the city received only $23.5 million from the

bond sale. What was the semiannual interest rate when the bonds were sold?

 

Answers

Maurice Tutor
(5)
Status NEW Posted 25 Oct 2017 10:10 AM My Price 4.00

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