(Answered) Question - alton corp purchased 15 1000 7 bonds of circuit

Accounting

Question - Alton Corp. purchased 15, $1,000, 7% bonds of circuit corporation when the market rate of interest was 8%. Interest is paid semiannually on the bonds, and the bonds will mature in five years. Using the PV function in Excel, compute the price Alton paid (the present value) on the bond investment.

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