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What is the amount of each interest payment on 8
What is the amount of each interest payment on 8.5 percent, semiannual coupon bond if the face value of the bond is $1000?
Expert Solution
Amount of Semi-Annual Interest Payment = Face Value*1/2*Coupon Rate
here,
Face value= 1000
Coupon rate= 8.5%
Put the value in the formula;
= 1000* 8.5%* 1/2
= $42.5
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