Assume that National, Inc. issues $100,000 of 8% bonds on January 1, 2020. The bonds are due in five years, with interest payable annually. What will the purchaser of the bonds receive?

• :

  A: six $8,000 interest payments, plus the $100,000 principal at maturity

• B : five $8,000 interest payments, plus the $100,000 principal at maturity

• C : five equal payments of $108,000

• D : five increasing payments based on principal plus interest