On January 1, 2021, Monty Inc. purchased a 20-year bond to earn interest with a face...
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On January 1, 2021, Monty Inc. purchased a 20-year bond to earn interest with a face value of $360,000. Monty has a December 31 year end. The bond was issued on January 1, 2021 by Zhou Appliances Ltd. with a 6.80% stated interest rate, when the market interest rate was 7.3%. The cash received at the issuance of the bond was $341.220. Interest is payable semi-annually on July 1 and January 1. Zhou has a December 31 year end. Also, on January 1, 2021 Monty Inc. purchased a 60-day treasury bill with a maturity value of $37,400. They paid $35.920. On January 1, 2021, Monty Inc. purchased a 20-year bond to earn interest with a face value of $360,000. Monty has a December 31 year end. The bond was issued on January 1, 2021 by Zhou Appliances Ltd. with a 6.80% stated interest rate, when the market interest rate was 7.3%. The cash received at the issuance of the bond was $341.220. Interest is payable semi-annually on July 1 and January 1. Zhou has a December 31 year end. Also, on January 1, 2021 Monty Inc. purchased a 60-day treasury bill with a maturity value of $37,400. They paid $35.920.
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