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    ndengineer's Avatar
    ndengineer Posts: 1, Reputation: 1
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    #1

    Aug 10, 2009, 07:25 PM
    Multiple choice
    Company issued $4,000,000, 5-year, 12% bonds for $4,280,000 with semi annual interest payable on March 31 and September 30. If the effective rate of interest is 10 %, determine following:
    Part 1. The interest rate paid on September 30 is ____
    A. $ 150,000 B. $ 100,000 C. $ 140,000 D. $ 240,000

    2. The amount of premium amortized on September 30, using straight line method is _____.

    A. $ 30,000 B. $ 28,000 C. $ 24,000 D. $ 2, 400


    Part 3. The accrued interest payable on December 31 is ___________-

    A. $ 0 B. $ 150,000 C. $ 120,000 D. $ 100,000
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Aug 10, 2009, 08:08 PM

    Please see the guidelines for posting homework problems:
    Ask Me Help Desk - Announcements in Forum : Homework Help

    We're not here just to give you the answers. Give us you attempts to do it and then we can help you. Since it's multiple choice, your reasoning behind your answers would be good too.
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