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What is the amount of cash interest fomento must pay

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Question - Fomento Company received proceeds of $534,500 on 10-year, 6% bonds issued on January 1, 2016. The bonds had a total face value of $500,000 and pay interest semi-annually on June 30 and December 31st. What is the amount of cash interest Fomento must pay the bondholders in 2016?

Please explain why you multiply the face value only by interest, shouldn't you mutiply the face value by interest times the 6 months of accrued interest?

Reference no: EM133176745

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