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Determine what would be amortized cost of bonds on january

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Problem 1: On January 1, 2021, $900000, 5-year, 5% bonds, were issued for $861611. The interest rate in effect when the bonds were issued was 6%. Interest is paid semi-annually on January 1 and July 1. What would be the amortized cost of the bonds on January 1, 2022?

Reference no: EM132931538

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