Multiple Choice
On July 1,2011,Ace Electronics issued $10 million dollars of 8%,20-year bonds at 102.The bonds pay interest semiannually on December 31 and June 30.How much cash will Ace pay when the bonds mature? Assume that the final interest payment is made separately.
A) $10,000,000
B) $10,200,000
C) $5,000,000
D) $102,000,000
Correct Answer:
Verified
Correct Answer:
Verified
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