On March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877. The bonds pay interest semi-annually every March 1 and September 1 and were issued to yield 9%. How much is the interest payable on December 31, 2022? (Round off final answer to the nearest peso.)
On March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877. The bonds pay interest semi-annually every March 1 and September 1 and were issued to yield 9%. How much is the interest payable on December 31, 2022? (Round off final answer to the nearest peso.)
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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![On March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877. The bonds
pay interest semi-annually every March 1 and September 1 and were issued to yield 9%. How much is the interest
payable on December 31, 2022?
(Round off final answer to the nearest peso.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff855e8d3-b5bc-4a25-8705-c8d845685e5a%2F117b1b27-d9a3-4b3c-8cfa-d1bd3a195eda%2Fclfvkee_processed.jpeg&w=3840&q=75)
Transcribed Image Text:On March 1, 2021, a company issued a four-year, P3,000,000 face value, 11% term bonds for P3,197,877. The bonds
pay interest semi-annually every March 1 and September 1 and were issued to yield 9%. How much is the interest
payable on December 31, 2022?
(Round off final answer to the nearest peso.)
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