Question
H Corp. issues $820,000 of 7-year, 6% coupon bonds. The bonds interest is paid semiannually, and the firm received $771,229 for the bonds at issuance.
H Corp. issues $820,000 of 7-year, 6% coupon bonds. The bonds interest is paid semiannually, and the firm received $771,229 for the bonds at issuance. What is the effective rate on these bonds?
| 3.55% | ||
| 7.10% | ||
| 3.00% | ||
| 6.00% |
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Financial Accounting The Impact On Decision Makers
Authors: Gary A Porter, Curtis L Norton
7th Edition
1439080526, 9781439080528
