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What would be an effective interest schedule

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Question - James Company issued a $1,000,000, 6% bond, at 92 on January 1, 2017 maturing in 5 years, interest paid semiannually, on each June 30 and December 31. The market rate of interest on January l, was 8%. What would be an effective interest schedule for two years 2016 and 2017?

Reference no: EM132493695

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