Discount-mart issues $17 million in bonds on january 1, 2021. the bonds have a eight-year term and pay interest semiannually on june 30 and december 31 each year. below is a partial bond amortization schedule for the bonds: date cash paid interest expense increase in carrying value carrying value 01/01/2021 $ 15,157,579 06/30/2021 $ 680,000 $ 757,879 $ 77,879 15,235,458 12/31/2021 680,000 761,773 81,773 15,317,231 06/30/2022 680,000 765,862 85,862 15,403,093 12/31/2022 680,000 770,155 90,155 15,493,248 what is the market annual rate of interest on the bonds?

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of the three mortgage options that demarco and tanya have to choose from, the balloon payment mortgage would be their best option, over adjustable payment and fixed payment plans.ultimately, the balloon payment plan would save demarco and tanya overall, in interest, would cost less monthly, and they would only have to make these payments for 8 years, opposing to 30 years for adjustable or fixed payment plans. 

overall, demarco and tanya would save $80,811 if they chose balloon payments over fixed payments, and would save $116,711 if they choose balloon payments over adjustable payments. benefits with choosing fixed payments over adjustable payments is that, in the end, the payments will still be $836.30 a month, while with adjustable payments, the initial monthly payments will be $763.38 to $1082.70 a month, ultimately leading to a more costly purchase. benefits with choosing fixed payments over balloon payments are not present. benefits in choosing adjustable payments over is that it has a lower interest rate, and starts with lower monthly payments initially. benefits in choosing adjustable payments over balloon payments include a lower interest rate, and lower initial monthly payments. benefits in choosing balloon payments over fixed payments include lower interest rates, lower overall price, lower monthly payments, takes less time to pay off, and does not require a downpayment. benefits in choosing balloon payments over adjustable payments include, lower monthly payments (when averaged), takes less time to pay off, and lower overall price.

hence, option c, balloon payments, is the best option for demarco and tanya to make this purchase, for it will save them a minimum of $80811, and a maximum of $116,711.