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survey of accounting

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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.

  • survey of accounting -

    The ______ interest rate is used to calculate the regular interest payments made to the bond holder.

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