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Home Q & A Board Other Fields Homework Help Business Accounting
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brendatanmy brendatanmy
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5 years ago
Price Enterprises invested in the bonds of Greater Glouster on January 1, 2015.  These 50 year, $500,000 bonds pay interest of 3% every June 30 and December 31.  The effective rate of interest for similar bonds on January 1 was 4%.  What is the purchase price of these bonds?
A) $500,000
B) $485,000
C) $520,000
D) $392,254
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Intermediate Accounting

Intermediate Accounting


Edition: 1st
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Heyhey39476Heyhey39476
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5 years ago
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brendatanmy Author
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#2
5 years ago
Tremendous help, I just double-checked it with my friend Smiling Face with Open Mouth
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