On January 1, 2024, Paradise Hollow Resort issues $24 million of bonds that pay interest semiannually...
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On January 1, 2024, Paradise Hollow Resort issues $24 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) Date 1/1/2024 6/30/2024 12/31/2024 (2) Cash Paid for Interest $840,000 840,000 (3) Increase in (5) Interest Expense Carrying Value Carrying Value $894,766 896,957 $54,766 56,957 $22,369,161 22,423,927 22,480,884 . What is the total cash paid for interest assuming the bonds mature in 10 years? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as 5,500,000).) On January 1, 2024, Paradise Hollow Resort issues $24 million of bonds that pay interest semiannually on June 30 and December 31. Portions of the bond amortization schedule appear below: (1) Date 1/1/2024 6/30/2024 12/31/2024 (2) Cash Paid for Interest $840,000 840,000 (3) Increase in (5) Interest Expense Carrying Value Carrying Value $894,766 896,957 $54,766 56,957 $22,369,161 22,423,927 22,480,884 . What is the total cash paid for interest assuming the bonds mature in 10 years? (Enter your answer in whole dollars, not millions (i.e., $5.5 million should be entered as 5,500,000).)
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From the given information we can see that the interest payments are made semiannually on June 30 an... View the full answer
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