Purple amp orange inc sold 700000 of bonds on an interest

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Purple & Orange, Inc., sold $700,000 of bonds on an interest payment date at 102. Assuming the bonds will be retired in 10 years and interest is paid annually. The bonds carry a stated interest rate of 6.5 percent.Calculate the amount of cash that will be paid by Purple & Orange in the first full year.

Reference no: EM13608894

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