At the beginning of 2017, the octo company issued 10% bonds with a face value of $3,000,000. these bonds mature in the five years, and interest is paid semiannually on june 30 and december 31. the bonds were sold for $2,779,200 to yield 12%. octo uses a calendar-year reporting period. using the effective-interest method of amortization, amount of interest expense that should be reported for 2017 is
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What impact might an economic downturn have on a borrower’s fixed-rate mortgage? a. it might cause a borrower’s payments to go up. b. it might cause a borrower’s payments to go down. c. it has no impact because a fixed-rate mortgage cannot change. d. it has no impact because the economy does not affect interest rates.
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At the beginning of 2017, the octo company issued 10% bonds with a face value of $3,000,000. these b...
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