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olga2289 [7]
2 years ago
11

A customer buys 10 Allied Corporation 8% debentures, M '25, at 90 on Tuesday, Oct 9th. The interest payment dates are Feb. 1 and

Aug. 1. The trade settled on Thursday, October 11th. The annual interest payments amount to:
Business
1 answer:
pshichka [43]2 years ago
5 0

Based on the information given the annual interest payments amount to:$800.

<h3>Annual interest payments:</h3>

The 10M represent 1-1,000 bonds which is $10,000

Using this formula

Annual interest payment= Interest rate annually×Bonds

Where:

Interest rate annually=8%

Bonds=$10,000

Let plug in the formula

Annual interest payment=8% of $10,000

Annual interest payment=$800

Inconclusion the annual interest payments amount to:$800.

Learn more about annual interest payment here:brainly.com/question/2151013

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