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On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest payments are paid annually, each interest payment will be ________.

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Answer:

The correct answer is "$15,000".

Explanation:

Given:

Value,

= $250,000

Interest rate,

= 6%

The Interest Payment will be:

[tex]Value\times Interest \ rate[/tex]

= [tex]250,000\times 6[/tex]%

= [tex]15,000[/tex] ($)

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