If Renfro Rentals has issued bonds that have an 8% coupon rate, payable semiannually. The price of the bonds is: $1,039.11.
<h3>Price of the bonds</h3>
We would be making use of financial calculator to find or determine the price of the bonds (Present value) by inputting the below data:
N represent Number of years = 12 x 2 = 24
I represent Interest rate= 7.5 % / 2 =3.75 %
PMT represent Periodic payment= (8% x 1000) / 2 = $40
FV represent Future value= $1,000
PV represent Present value=?
Hence;
PV (Present value) = $1,039.11
Therefore if Renfro Rentals has issued bonds that have an 8% coupon rate ,payable semiannually. The price of the bonds is: $1,039.11.
Learn more about price of the bonds or present value here: brainly.com/question/13990294
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