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On January 1, 2024, Balloon Co. issued its 8% bonds in the face amount of $3,000, which mature on January 1, 2034. The bonds were

On January 1, 2024, Balloon Co. issued its 8% bonds in the face amount of $3,000, which mature on January 1, 2034. The bonds were issued to yield 10%. Interest is payable annually on December 31. Assuming the effective interest method, the 2025 Interest Expense is approximately?

Assuming striaght line method, the 2025 interest expense is approximately?

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