Question: Morgan Company issues 1 0 % , 2 0 - year bonds with a par value of $ 6 9 0 , 0 0 0

Morgan Company issues 10%,20-year bonds with a par value of $690,000 that pay interest semi-annually. The current market rate is 9%. The amount of interest owed to the bondholders for each semiannual interest payment is:
Multiple Choice
$62,100.
$34,500.
$345,000.
$69,000.
$31,050.

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