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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