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Business, 16.04.2020 19:33 yialefi

On January 1, a company issued 7%, 20-year bonds with a face amount of $50 million for $45,051,848 to yield 8%. 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 1 decimal place (e. g., 0.0234 should be entered as 2.3).)

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On January 1, a company issued 7%, 20-year bonds with a face amount of $50 million for $45,051,848 t...
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