On january 1, year 1 residence company issued bonds with a $50,000 face value. the bonds were issued at 96 offering a 4% discount. they had a 20 year term, a stated rate of interest of 7%, and an effective rate of interest of 7.389%. assuming residence uses the effective interest rate method, the carrying value of the bond liability on january 1, year 1 is (round any necessary computations to the nearest whole dollar)(a) $3,499(b) $3,500(c) $3,547(d) $3,600

caring value of bond liability is $48000

interest expense = $3547

annual coupon = 3500

amount of bond discount amortization is $47

Explanation:

given data

face value = $50,000

bonds issue =  96

discount = 4%

time = 20 year

interest = 7%

effective rate of interest = 7.389%

to find out

compound annual coupon

solution

we have given face value and discount 4 %

so issue price will be

issue price = 96% of face value

issue value = 96% × 50000 = $48000

and

interest expense is here by effective interest rate is

interest expense = 7.389% of $48000

interest expense = $3547

and

annual coupon is here

annual coupon is 7% of face value

annual coupon = 7% × 50000

annual coupon = 3500

and

amount of bond discount amortization is 3547 - 3500 = $47

answer: b) the us is the leading importer but not the leading exporter.

extra info:

the u.s is the largest importer but it is not the largest exporter as china sits on the top of the table when it comes to leading exporters.

but u.s is not far from first,

they rank in 2nd globally as the worlds largest exporter.

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explanation: