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Calculate the interest to be paid semiannually

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Reference no: EM132655511

On July 1, 20Y3, Beaufort Vaults Corporation issued $25,000,000 of 10-year, 8% bonds at par. Interest on the bonds is payable semiannually on December 31 and June 30. The fiscal year of the company is the calendar year.

Problem 1: Calculate the interest to be paid semiannually.

Reference no: EM132655511

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