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PLEASE HELP! I HAVE 30 MINUTES Question 3 3 pts $70,000 worth of 5 year bonds were issued on January 1st with a contract rate

image text in transcribedPLEASE HELP! I HAVE 30 MINUTES
Question 3 3 pts $70,000 worth of 5 year bonds were issued on January 1st with a contract rate of 5% and market rate of 6%. Interest is paid semiannually. Calculate the amount of interest paid to bondholders on July 1st

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