Haygood Corp.
Haygood Corp.
purchased 15, $ 1000, 3% bonds of Voltgo Corporation when the market rate of interest was 6%. Interest is paid semiannually on the bonds, and the bonds will mature in five years. Using the PV function in Excel®, compute the price Haygood paid (the present value) on the bond investment.
Haygood paid $( ? ) on the bond investment