Splish Inc. issues $2,193,500 of 10% bonds due in 12 years with interest payable at year-end. The current market rate of interest for bonds of similar risk is 11%.
What amount will Splish receive when it issues the bonds? (Round factor values to 5 decimal places, e.g. 1.25124 and final answers to 0 decimal places, e.g. 458,581.)
Amount received by Splish when bonds were issued $———-
INTEREST TABLES AND THEIR CONTENTS 1.FUTURE VALUE OF 1 TABLE. Contains the amounts to which 1 will accumulate if deposited now at a specified rate…