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    netfru2004's Avatar
    netfru2004 Posts: 3, Reputation: 1
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    #1

    Feb 26, 2008, 03:28 PM
    Bonds issued
    Bee company issues $10,000,000 of 10-year, 9% bonds on March 1, 2007 at 97 plus accrued interest. The bonds are dated January 1, 2007, and pay interest on June 30 and December 31. What is the total cash received on the issue date?
    MaggieMouse's Avatar
    MaggieMouse Posts: 226, Reputation: 8
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    #2

    Feb 29, 2008, 08:29 AM
    $10,000*.97+$10,000k*9%/12*2
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