The University of Michigan issued $2 billion in bonds in March 2022. The proceeds from these bonds will be used to finance construction and renovation projects on the campus. $1.2 billion was issued as century bonds, which must be repaid in 100 years. This century bond issuance is the largest century issuance in the higher education sector to date. The century bond has a coupon rate of 4.45 percent. The other $800 million of the bond issuance were 30-year bonds, with a coupon rate of 3.5 percent. $300 million of the 30-year bonds were green bonds. The proceeds from green bonds can only be used to fund green capital projects that support environmental or climate-related objectives. Among other green projects, the University of Michigan plans to build a geothermal heating and cooling system for one of the buildings on campus. The bonds were issued at par. The University of Michigan has a fiscal year end of June 30. Review the tutorial video on issuing bonds at par. These questions each have only one attempt. Review the question information and watch the video before answering the questions. What will be the amount of the cash interest paid semi-annually on $160,000 of the century bonds? A. $593.33 B. $1,780.00 OC. $3,550.00 OD. $7,120.00 Assume that the university issued the bonds on March 1, 2022. How much interest expense should the university accrue on June 30, 2022 for $160,000 of the 30-year bonds? A. $933.33 B. $1,866.67 OC. $5.600.00 OD. $2,800.00