angelclark1838 angelclark1838

21-04-2021
Business

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Exercise 10-3 Recording bond issuance and interest LO P1 On January 1, Boston Enterprises issues bonds that have a $1,950,000 par value, mature in 20 years, and pay 9% interest semiannually on June 30 and December 31. The bonds are sold at par. 1. How much interest will Boston pay (in cash) to the bondholders every six months

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abiolataiwo2015 abiolataiwo2015

22-04-2021

Answer:

$87,750

Explanation:

Calculation to determine How much interest will Boston pay (in cash) to the bondholders every six months

Using this formula

Semiannual cash interest paymen=Par maturity value*Semi-annual rate

Let plug in the formula

Semiannual cash interest payment=$1,950,000*9%/2

Semiannual cash interest payment=$87,750

Therefore The cash paid every six months would be $87,750

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