On January 1, 2020, $10 million worth of 8-year bonds with a stated rate of 8% were issued; interest is paid semi-annually on June 30th and Dec 31st. The market interest rates were 7% when the bonds were issued. Show Work Please

Calculate the annual interest payment on the bonds.

Calculate the amount of interest paid on each semi-annual payment.

Calculate the total amount of interest to be paid over the 8 years.

Were the bonds issued at a premium or a discount?