Question

A bond has a $12,000 face value, a 9-year maturity, and a 3.1% coupon. Find the total of the interest payments paid to the bondholder.

Answer 1

Answer:

$15348

Step-by-step explanation:

i = prt is the simple interest equation

i = 12,000(0.031) = 372

i = 372*9 = 3348

12000+3348 = $15348