Carlin Company issued bonds with a face value of \(\$ 60,000\) on January 1, 2011. The bonds had an 8 percent stated rate of interest and a six-year term. The bonds were issued at face value. Interest is payable on an annual basis.

Required
Write a memo explaining whether the total cash outflow for interest would be more, less, or the same if the bonds pay semiannual versus annual interest.