How much tax do you owe on the interest payment

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Reference no: EM131074634

You purchase a 6 percent $10,000 bond for $9,350 plus $163 in accrued interest for a total outlay of $9,513. Subsequently you receive a $350 interest payment. You are in the 20 percent income tax bracket. How much tax do you owe on the interest payment? Round your answer to the nearest cent.

Reference no: EM131074634

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How much tax do you owe on the interest payment : You purchase a 6 percent $10,000 bond for $9,350 plus $163 in accrued interest for a total outlay of $9,513. Subsequently you receive a $350 interest payment. You are in the 20 percent income tax bracket. How much tax do you owe on the interest payme..

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