Face amount: $120,000 Contract interest rate: 14% Effective interest rate: 14% Interest is paid semiannually on January 1 and July 1 Term of bond: 6 years Present Value of Ordinary Annuity of $1 per Period Periods 3% 3.5% 4% 4.5% 5% 5.5% 6% 6.5% 7% 1 0.97087 0.96618 0.96154 0.95694 0.95238 0.94787 0.94340 0.93897 2 1.91347 1.89969 1.88609 1.87267 1.85941 1.84632 1.83339 1.82063 3 2.82861 2.80164 2.77509 2.74896 2.72325 2.69793 2.67301 2.64848 4 3.71710 3.67308 3.62990 3.58753 3.54595 3.50515 3.46511 3.42580 5 4.57971 4.51505 4.45182 4.38998 4.32948 4.27028 4.21236 4.15568 6 5.41719 5.32855 5.24214 5.15787 5.07569 4.99553 4.91732 4.84101 7 6.23028 6.11454 6.00205 5.89270 5.78637 5.68297 5.58238 5.48452 8 7.01969 6.87396 6.73274 6.59589 6.46321 6.33457 6.20979 6.08875 9 7.78611 7.60769 7.43533 7.26879 7.10782 6.95220 6.80169 6.65610 10 8.53020 8.31661 8.11090 7.91272 7.72173 7.53763 7.36009 7.18883 11 9.25262 9.00155 8.76048 8.52892 8.30641 8.09254 7.88687 7.68904 12 9.95400 9.66333 9.38507 9.11858 8.86325 8.61852 8.38384 8.15873
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