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What would be the amortized cost of the bonds on january

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Reference no: EM132929840

Problem 1: On January 1, 2021, $900000, 5-year, 5% bonds, were issued for $861611. The interest rate in effect when the bonds were issued was 6%. Interest is paid semi-annually on January 1 and July 1. What would be the amortized cost of the bonds on January 1, 2022? (Round intermediate calculations to 5 decimal places.)

1. $868408

2. $861611

3. $900000

4. $871960

Reference no: EM132929840

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