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| Teaching Since: | May 2017 |
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| Questions Answered: | 66690 |
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MCS,PHD
Argosy University/ Phoniex University/
Nov-2005 - Oct-2011
Professor
Phoniex University
Oct-2001 - Nov-2016
(Learning Objective 6: Calculate the present value of a bond investment) Itaska Corp. purchased 20 $1,000 4% bonds of Citigroup when the market rate of interest was 3%. Interest is paid semiannually, and the bonds will mature in five years. Using the PV function in Excel, compute the price Itaska paid (the present value) for the bond investment.
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