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Logan City issues $10 million in bonds on January 1, 2024 that pay interest semiannually on June 30 and December 31. A portion of the
Logan City issues $10 million in bonds on January 1, 2024 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date 01/01/2024 06/30/2024 $400,000 12/31/2024 400,000 5% 8% Cash Paid 10% 4% Interest Expense $440,000 442,000 Increase in Carrying Value $40,000 42,000 What is the stated annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) Carrying Value $8.800.000 8,840,000 8,882,000 
Logan City issues $10 million in bonds on January 1,2024 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: What is the stated annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) 5% 8% 10% 4%
Logan City issues $10 million in bonds on January 1, 2024 that pay interest semiannually on June 30 and December 31. A portion of the bond amortization schedule appears below: Date 01/01/2024 06/30/2024 $400,000 12/31/2024 400,000 5% 8% Cash Paid 10% 4% Interest Expense $440,000 442,000 Increase in Carrying Value $40,000 42,000 What is the stated annual interest rate? (Hint: Be sure to provide the annual rate rather than the six-month rate.) Carrying Value $8.800.000 8,840,000 8,882,000
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