Assume that you purchased a corporate bond with a face value of $1,000.The interest rate is 3.60

Question:

Assume that you purchased a corporate bond with a face value of $1,000.The interest rate is 3.60 percent. What is the dollar amount of annual interest you will receive each year?

Face Value
Face value is a financial term used to describe the nominal or dollar value of a security, as stated by its issuer. For stocks, the face value is the original cost of the stock, as listed on the certificate. For bonds, it is the amount paid to the...