# The principal amount is $80,000, the stated rate is 10%, and the term of the bond is 8 years. The… 1 answer below »

The principal amount is $80,000, the stated rate is 10%, and the term of the bond is 8 years. The bond pays interest semiannually. At the time of issue, the market rate is 9%. What is the present value of the bond at the market rate?

$84,456

$44,936

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