Dbrainlife Dbrainlife

04-02-2024
Mathematics

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Quarry Industries issued $250,000 in bonds last year to fund an expansion. Each of the bonds has a par value of $1,000 and a coupon rate of 3% paid semi-annually. How much interest will Quarry Industries be paying in total on a semi-annual basis to bondholders?

Respuesta :

04-02-2024

Answer:

$3750

Step-by-step explanation:

250 K in bonds

coupon rate 3% semi annually

so every 6 mos = 1.5%

so every 6 mos pays 250K*1.5% = 3750

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