# Haste Enterprises issues 15-year, $1,000,000 bonds that pay semiannual interest of$50,000. If the effective annual...

###### Question:

Haste Enterprises issues 15-year, $1,000,000 bonds that pay semiannual interest of$50,000. If the effective annual rate of interest is 12%, what is the issue price of the bonds? Some relevant and irrelevant present value factors PV of ordinary annuity of $1: n= 15; -12% is 6.81086 **PV of$t: n-15; / 12% is 0.18270 PV of ordinary annuity of $t: n= 30; /- 6.0% is 13.76483 **PV of$t: n=30:/= 6.0% is 0.17411 Multiple Choice $862,352$1688.242 $929,852$1.000.000

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