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    nicalbud's Avatar
    nicalbud Posts: 2, Reputation: 1
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    #1

    Jul 9, 2008, 10:14 AM
    Bond Redemption
    My question is regarding bonds. I am trying to calculate interest but it is difficult and I am not sure that I am doing it right. The question goes $300,00, 10%, 10-yr bonds on Jan 1, 2006, paid interest on Jan 1 and July 1, sold at 104. On Jan 08, carrying value is $309,600, redeemed at 105. Record redemption of bonds assuming that interest has already been paid. My answer is $325,080. So here's my questions: Is my answer correct? If not, what did I do wrong? Please help me to understand!
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    Jul 9, 2008, 09:59 PM
    What is the $325,080 supposed to be? It's asking for an entry and your answer is just a dollar amount.
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