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Mila [183]
3 years ago
5

On January 1, 2020, Levy Company issues 100 x 5% bonds with a face value of $1500, The bonds mature on December 31, 2030 and pay

interest semi-annually. What is the amount of Cash raised for the Levy Company?
Business
1 answer:
JulsSmile [24]3 years ago
8 0

Answer:

$150,000

Explanation:

Calculation for the amount of Cash raised for the Levy Company

Using this formula

Cash raised for Levy Company = Number of Bonds * Face value of the Bond

Let plug in the formula

Cash raised for Levy Company = 100 * $1,500

Cash raised for Levy Company = $150,000

Therefore the amount of Cash raised for the Levy Company will be $150,000

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