(Answered) 1 mary wants to make a deposit on 212015 to be able to

Accounting

1. Mary wants to make a deposit on 2/1/2015 to be able to withdraw $2,500 at the beginning of each year starting 2/1/2020 for five years. The interest rate is 8 percent. What is the amount of the deposit that Mary needs to make on 2/1/2015?

2. Determine the market price of a $1,500,000, 12-year, 9% (pays interest semiannually) bond issue sold to yield an effective rate of 8%. Also, determine the amount of any possible bond premium or discount.

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