A graphics design company has issued bonds in the amount of $1,000,000 with a stated interest rate of 8%.The interest is paid semiannually.The bonds are due in 10 years.What will be the total amount of interest paid over the life of the bonds?
A) $80,000
B) $400,000
C) $800,000
D) $1,000,000
Correct Answer:
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