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Business, 04.05.2021 04:00 ehensl06

Desert Company issued $3,158,061 of 12% bonds on January 1, 2021. The market rate of interest at that time was 9%. The bonds pay interest quarterly each March 31, June 30, September 30, and December 31. What is the amount of the cash payment Desert is legally obligated to pay its creditor each quarter?

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Desert Company issued $3,158,061 of 12% bonds on January 1, 2021. The market rate of interest at tha...
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