On January 1, Boston Enterprises issues bonds that have a $2,200,000 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

$ 99,000.00  

Explanation:

The amount of interest the company pays to bondholders every six months is the face value of the bond *semiannual coupon rate

face value is $2,200,000

semiannual coupon rate=9%*6/2=4.5%

interest paid semiannually=$2,200,000*4.5%=$90,000

The double entries for the interest payment would be a credit to cash account and debit to interest expense

the interest will be $59.71

hope this

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.