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Question 3 3 pts $70,000 worth of 5 year bonds were issued on January 1st with a contract rate of 5% and market rate of 6%. Interest is paid semiannually. Calculate the amount of interest paid to bondholders on July 1st. PLEASE HELP! I HAVE 30 MINUTES
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Interest paid on July 1st to bondholders Face value of bonds × Contract rate × (6/12) $70,000 × 500 × (6/12) $1.750

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