Business, 22.08.2020 06:01 kolibeilfuss

On January 1, 2021, an investor paid $295,000 for bonds with a face amount of $315,000. The contract rate of interest is 8% while the current market rate of interest is 11%. Using the effective interest method, how much interest income is recognized by the investor in 2022 (assume annual interest payments and amortization)

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On January 1, 2021, an investor paid $295,000 for bonds with a face amount of $315,000. The contract...