(Answered) Simpson inc purchased 5 4000 11 bonds of hillsdale

Accounting

Simpson Inc. purchased 5, $4,000, 11% bonds of hillsdale corporation when the market rate of interest was 10%. Interest is paid semiannually on the bonds, and the bonds mature in 4 years.

Compute the total price paid by simpson inc. for the bonds showing your calculation for the present value of the principal and the present value of the interest payments.

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