Reference no: EM132494891
Discount-Mart issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds.
- Payment Cash Effective Interest Decrease in Balance Outstanding
Balance 8,640,967
1 300,000 345,639 45,639 8,686,606
2 300,000 347,464 47,464 8,734,070
3 300,000 349,363 49,363 8,783,433
4 300,000
Question 1: What is the stated annual rate of interest on the bonds?
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: What is the stated annual rate of interest on the bonds? Discount-Mart issued ten thousand $1,000 bonds on January 1, 2021. The bonds have a 10-year term
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