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Question $11$

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Pinto Corp. sells $$450,000$ of bonds to private investors. The bonds have a $4\%$ coupon rate and interest is paid semiannually. The bonds were sold to yield $5\%.$ What periodic interest payment does Pinto make to its investors?

Select one:

a$.$ $$5,625$

b$.$ $$11,250$

c$.$ $$9,000$

d$.$ None of these are correct.

e$.$ $$4,500$