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Par Value: Jan 1 $ 5 0 0 , 0 0 0 Bond term, in years 8 Interest Payments June 3 0 & Dec 3

Par Value: Jan

1

500, 000

Bond term, in years

8

Interest Payments June

30

& Dec

31

Stated Interest Rate

12 %

Market Interest Rate

8 %

How much is Interest Expense on the FIRST payment? How much is Interest Expense on the SECOND interest payment? How much is the Amortization of the Premium on the SECOND interest payment?

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