Answer:
<h3>BILLS OF LADING / AIRWAY BILL. MARINE INSURANCE POLICY AND CERTIFICATE. BILLS OF EXCHANGE.</h3>
Answer:
85.84
Explanation:
•At a 1000 par value, 8%, the coupon
will be 80 (1000*0.08).
•It is also compounded quaterly = 80/4 = 20 per quarter.
•Nominal interest rate= 6%, = 1.5% per quater.
•Face value = 1000
•Since it is cimpounded quaterly, n = 5years*4 = 20
To find the redemption value at the end of five years, we need to first find the present value of the bond.
= 20/(1+0.015)+ 20/(1+0.015)² + 20/(1+0.015)³+20/(1+0.015)⁴..............+20(1+0.015)^20
= 1085.84
Therefore the redemption value after five years will be:
Present value - face value
1085.84-1000 = 85.84
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