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OES TION 19 Discount-Mart issues $10 million in bonds on January 1, 2018. The bonds Below is a partial bond amortization schedule for the bonds
OES TION 19 Discount-Mart issues $10 million in bonds on January 1, 2018. The bonds Below is a partial bond amortization schedule for the bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year Date Cash Paid Interest 1/1/2018 6/30/2018 12/31/2018 6/30/2019 12/31/2019 $345,639 347,464 349,363 351,337 arrying Valuel Carrying Value $8,640,967 8,686,606 8,734,070 8,783,433 8.834.770 $45,639 47,464 49,363 51,337 300,000 300,000 300,000 What is the market annual rate of interest on the bonds? (Hint Be sure to provide the annual rate rather than the sox month rate) 3% 4% 690 8%
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