For the given bond, whose interest rate is provided, find the semiannual interest payment and the total interest earnedover the life of the bond.
-$\$16,000$ First Income Fund 4 -year bond at $1.15 \%$
A) $\$ 184.00 ; \$ 736.00$
B) $\$ 9200.00 ; \$ 73,600.00$
C) $\$ 92.00 ; \$ 736.00$
D) $\$ 88.00 ; \$ 704.00$

Question

Quizplus · Accepted Answer

The semiannual interest payment is calculated as $(\$16,000 \times 1.15\%) / 2 = \$92.00$. Over 4 years, there are 8 periods, so the total interest is $8 \times \$92.00 = \$736.00$.

For the Given Bond, Whose Interest Rate Is Provided, Find $16,000\$16,000$16,000

For the Given Bond, Whose Interest Rate Is Provided, Find $\$16,000$