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How much is the investor interest payment

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Question - On April 1, 2016, Illini Company sold three-year $2 million 8% bonds for $2.04 million. The bonds were originally dated January 1, 2016. The interest is payable semiannually on June 30 and December 31. Please answer the following two questions (base your calculation on the number of months). How much is the investor's interest payment out of the $2.04 million selling price of the bonds?

Reference no: EM133106809

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