Based on the information given the annual interest payments amount to:$800.
Annual interest payments:
The 10M represent 1-1,000 bonds which is $10,000
Using this formula
Annual interest payment= Interest rate annually×Bonds
Where:
Interest rate annually=8%
Bonds=$10,000
Let plug in the formula
Annual interest payment=8% of $10,000
Annual interest payment=$800
Inconclusion the annual interest payments amount to:$800.
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