On july1 2016 A company issesd 700,000 of 12% bonds, dated July 1. Interest of 42,000 is payable semiammunaly on June 30 and Dec 31. THe bonds matures in theee years, on 30 June 2019. THe market interest rate for bonds of similar risk and maturity is 14%. The entire bond issue was purchased by United intergroup, Inc.
Interest 42000*4,76654 = 200195
principal face 700,000*0.66634 = 466438
present value of the bond is 666,633
I have to get the present value using my caculator, how can i get that number?