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Stumped on Accounting.
"The Amazing Widget Company issues $500,000 of 6%, 10-year bonds at 103 on March 31, 2013. The bond pays interest on March 31 and September 30. The market rate of interest on the issuance date was 4%. On September 30, 2013, how much cash did the company pay out to bondholders?"
I'm truly stumped, I honestly don't need the answer. Rather the formula I am to solve this with. |
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"The Amazing Widget Company issues $500,000 of 6%, 10-year bonds at 103 on March 31, 2013. The bond pays interest on March 31 and September 30. The market rate of interest on the issuance date was 4%. On September 30, 2013, how much cash did the company pay out to bondholders?"
First determine the important facts Principal value $500,000 Applicable rate 6% Payment date 30 September(six months after issue) Everything else might be applicable to cash received at time of issue but not to interest payment |
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