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Dave Ramsey Corporation issued $900,000, 9%, 10-year bonds on January 1, 2019, for $843,920. This price resulted in an effective-interest rate of 10.72% on the
Dave Ramsey Corporation issued $900,000, 9%, 10-year bonds on January 1, 2019, for $843,920. This price resulted in an effective-interest rate of 10.72% on the bonds. Interest is payable annually on January 1. Dave Ramsey uses the effective-interest method and also the straight-line method to amortize bond premium or discount
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