Use the Following Information to Answer the Next 4 Questions

question 61

Multiple Choice

Use the following information to answer the next 4 questions:
Discount-Mart issues $10 million in bonds on January 1,2015.The bonds have a ten-year term and pay interest semiannually on June 30 and December 31 each year.Below is a partial bond amortization schedule for the bonds:

-What is the market annual rate of interest on the bonds? (Hint: Be sure to provide the annual rate rather than the six month rate. )

• A)3%.
• B)4%.
• C)6%.
• D)8%.

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Definitions:

Cochlear Implant

A surgically implanted electronic device that provides a sense of sound to a person who is profoundly deaf or severely hard of hearing.

Hearing Impairment

A partial or total inability to hear sound in one or both ears.

Electronic Device

A device that operates on electricity, typically using semiconductors and electronic circuits to perform its function.

Cones

Photoreceptor cells in the retina of the eye that are responsible for color vision and function best in relatively bright light.