On january 1 a company issued 6 15-year bonds with a face, Ask an Expert

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On January 1, a company issued 6%, 15-year bonds with a face amount of $100 million for $90,803,977.29 to yield 7%.

Interest is paid semiannually. What was interest expense at the effective interest rate on June 30, the first interest date?

(Enter your answers in whole dollars. Round percentage answers to 2 decimal places. (i.e., .0234 should be entered as 2.34).)

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92796795

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