Use the information for the question(s) below. The semiannual, 8-year bonds of Alto Music are selling at par and have an effective annual yield of 16.64 percent (annualized, compound rate). What is the amount of each interest payment if the face value of the bonds is $1,000 ? Choose the closest answer. $160.00 $166.40 $80.00 None of the other answers are correct. $83.20