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August 27, 2014

Homework Help: survey of accounting

Posted by ravi on Monday, March 8, 2010 at 6:11pm.

1. A corporation issues $18,000,000 of 6% bonds to yield an effective interest rate of 7%.
a) was the amount of cash received from the sale of the bonds more or less than $18,000,000?
b) identify the following amounts related to the bond issue: 1) face amount, 2) market rate of interest, 3)contract rate of interest, and 4) maturity amount.

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