?Exhibit 14-2
A $500,000, ten-year, 7% bond issue was sold to yield 6% interest payable annually. Actuarial information for 10 periods is as follows:
?
?
6%
7%
Present value of 1
0.50835
0.55839
Present value of an annuity of 1
7.02359
7.36009
?
?
Refer to Exhibit 14-2. At date of issuance cash received would be
A. ?$489,903.
B. ?$464,883.
C. ?$511,778.
D. ?$536,798.
Answer: D
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