Use the following information for all questions related to Gloria's Glorious Morning Muffins:

Gloria's Glorious Morning Muffins is issuing a $10,000 12% (stated rate) 2-year bond. The market rate of interest on the date of issuance is 9%. Interest payments will be made on a monthly basis.

Question 2

What is the total payment for interest each period on Gloria's bond? Round to two decimal places if necessary.

Question 3

What is the interest rate (in percentage form, i.e. 10%) that Gloria will use each period to calculate interest expense?

Round to two decimal places (i.e. 2.25%).

Use the following information for all questions related to Gloria's Glorious Morning Muffins: Gloria's Glorious Morning Muffins is issuing a $10,00012% (stated rate) 2-year bond. The market rate of interest on the date of issuance is 9%. Interest payments will be made on a monthly basis. Question 2 0.5 pts What is the total payment for interest each period on Gloria's bond? Round to two decimal places if necessary. Question 3 What is the interest rate (in percentage form, i.e. 10\%) that Gloria will use each period to calculate interest expense? Round to two decimal places (i.e. 2.25% )