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On September 1, 2013, Sam's Shoe Co. issued $350,000 of 8% bonds. The bonds pay interest semiannually on January 1 and July 1 of each

On September 1, 2013, Sam's Shoe Co. issued $350,000 of 8% bonds. The bonds pay interest

semiannually on January 1 and July 1 of each year. The bonds were sold at the face amount. How much

cash did Sam's receive upon sale of the bonds? (Answer: $354, 667)

*Please help me explain how to get the answer!

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