question archive XCorp plans to sell a $2
XCorp plans to sell a $2
Subject:FinancePrice: Bought3
XCorp plans to sell a $2.5 million bond. The money is needed to provide additional funding to open new community-based shelters and reduce reliance on commercial hotels, and support the transition from shelter to permanent housing. The bond matures in 12 years and requires semiannual interest payments. The stated interest rate is 5.25 percent, but rates have fallen to 4.96 percent in the market. How much will the XCorp receive when it sells the bond? NEED TO DO IN EXCEL
