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8 December, 13:05

Skylar Company issued $50,000,000 of its 10% bonds at par on January 1, 2019. On December 31, 2019, the bonds were trading on the bond exchange at 102.5. Since the issue date, what has happened to the market rate of interest?

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  1. 8 December, 16:10
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    500,000

    explanation of the answers

    by using the formula of simple interest

    which is principal x rate x time divided by 100.

    Ans=50,000,000 x 10 x 1 then ➗ by 100

    which Ans=500,000
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