On July 1, 2016 Omega Company sells $2,000,000 face value of 5% five year bonds which call for semiannual interest payments.
On July 1, 2016 Omega Company sells $2,000,000 face value of 5% five year
bonds which call for semiannual interest payments. The bonds are dated April 1, 2016 so these bonds are issued between interest dates. The market rate at the date of issue is also 5%. For simplicity, use a 360-day year and 30 day months for all calculations.
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