Business, 18.02.2020 17:14 wwwchivova

Discount-Mart issued ten thousand $1,000 bonds on January 1, 2016. The bonds have a 10-year term and pay interest semiannually. This is the partial bond amortization schedule for the bonds.

Payment
Cash Effective
Interest Decrease in Balance Outstanding Balance
8,640,967
1 300,000 345,639 45,639 8,686,606
2 300,000 347,464 47,464 8,734,070
3 300,000 349,363 49,363 8,783,433
4 300,000

What is the stated annual rate of interest on the bonds?

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Discount-Mart issued ten thousand $1,000 bonds on January 1, 2016. The bonds have a 10-year term and...