Desmond Corp. purchased TEN $1,000 4​% bonds of Simplex Corporation when the market rate

Desmond Corp. purchased TEN $1,000 4​% bonds of Simplex Corporation when the market rate of

interest was

8​%. Interest is paid​ semiannually, and the bonds will mature in seven years.

Using the PV function in Excel Superscript Excel®​, compute the price Desmo paid​ (the present​ value) for the bond investment.​ (Assume that all payments of interest and principal occur at the end of the period. Round your answer to the nearest​ cent.)

Save your time - order a paper!

Get your paper written from scratch within the tight deadline. Our service is a reliable solution to all your troubles. Place an order on any task and we will take care of it. You won’t have to worry about the quality and deadlines

Order Paper Now

The Question:

Desmond paid $ ? on the bond investment