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On January 1, Boston Enterprises issues bonds that have a $2,100,000 par value, mature in 20 years, and pay 7% 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

Respuesta :

abiolataiwo2015

Answer:

$73,500

Explanation:

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

Semiannual cash interest

payment =$2,100,000 × 7% × 1/2

Semiannual cash interest

payment = $73,500

Therefore How much interest will Boston pay (in cash) to the bondholders every six months is $73,500

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