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Question
On April 1, 2013, Jared Enterprises issues bonds dated January 1, 2013, that have a $2,430,000 par value, mature in 20 years, and pay 7% interest semiannually on June 30 and December 31. The bonds are sold at par plus three months' accrued interest. What is the total amount of cash Jared Enterprises will collect on April 1, 2013?
A. $2,600,100
B. $2,430,000
C. $2,472,525
D. $2,750,000
E. $2,515,050
Answer
This answer is hidden. It contains 114 characters.
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