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Carla purchased a $50,000 bond on its issue date, November 1, 2019. The bond only...

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Question

Accounting

Carla purchased a $50,000 bond on its issue date, November 1, 2019. The bond only pays interest at maturity, October 31, 2022, at a rate of 2% compounded annually. What amount of interest must be included in income for 2019?

options:

$500

$0

$1,000

$1,500

Answer & Explanation Solved by verified expert
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