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How much discount will be amortized on december

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Question - On January 1, 2003, Santos Hospital issued a $250,100, 10 percent, 5 - year band for $231,601. Interest is payable on June 30 and December 31. Santos uses the effective interest method to amortize all premiums and discounts. Assuming an effective interest rate of 12 percent, approximately how much discount will be amortized on December 31, 2003?

a. $2,230

b. $1,480

c. $1,396

d. $987

What is the effective-method to amortize?

Reference no: EM132193336

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