Business, 19.02.2021 03:00 bayl3ighh

Discount-Mart issues $13 million in bonds on January 1, 2021. The bonds have a eight-year term and pay interest semiannually on June 30 and December 31 each year. Below is a partial bond amortization schedule for the bonds: Date Cash Paid Interest Expense Increase in Carrying Value Carrying Value 01/01/2021 $ 11,771,936 06/30/2021 $ 780,000 $ 824,036 $ 44,036 11,815,972 12/31/2021 780,000 827,118 47,118 11,863,090 06/30/2022 780,000 830,416 50,416 11,913,506 12/31/2022 780,000 833,945 53,945 11,967,451 What is the stated annual rate of interest on the bonds

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Discount-Mart issues $13 million in bonds on January 1, 2021. The bonds have a eight-year term and p...

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