mslife6151 mslife6151

03-06-2023
Business

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Wildhorse Company sells 10% bonds having a maturity value of $2,020,000 for $1,874,375. The bonds are dated January 1,2020 , and mature January 1, 2025. Interest is payable annually on January 1. (a) Determine the effective-interest rate. (Round answer to 0 decimal places, eg. 18%.)

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