A company issued 5-year, 7% bonds with a par value of $100,000. The company received $97,947 for the bonds. Using the straight-line method, the amount of interest expense for the first semiannual interest period is:

We cannot do your homework for you!

niahmaris, give this a try, post it, and then someone can let you know if you're on the right track.

Im trying to understand how to figure out the answers. I think the book is very confusing.

Can you please be a normal social human being?