Assume that your grandmother has sold her house on 31.12.2021. The house was partially paid for with a bond, issued on the day, which is secured by a mortgage on the house. The face value of the bond is ISK. 40,000,000. The bond is an annuity loan for 30 years and bears interest of 8.4% p.a. The due date is once a year and is December 31. Now your grandmother will soon have to start paying taxes for the year 2023. She has therefore asked you to calculate what her interest income from the bond will be in the year 2023. 

What will her interest income be in the year 2023?

Answer rating: 100% (QA)

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