Question
A company issues 8%, 8-year bonds with a par value of $130,000 on January 1 at a price of $137,861, when the market rate of
A company issues 8%, 8-year bonds with a par value of $130,000 on January 1 at a price of $137,861, when the market rate of interest was 7%. The bonds pay interest semiannually. The amount of each semiannual interest payment is:
a) 10,400
b) 0
c) 9,100
d) 4550
e) 5200
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Modern Auditing Study Guide
Authors: Walter G. Kell
4th Edition
0471619434, 978-0471619437
