On july 1, 2018, mason & beech services issued $ 33,000 of 10% bonds that mature in five years. they were issued at par. the bonds pay semiannual interest payments on june 30 and december 31 of each year. on december 31, 2018, what is the total amount paid to bondholders?

$1,650

Explanation:

The computation of the total amount paid to bondholders is shown below:

= Issued amount × rate of interest × number of months ÷ (total number of months in a year)

= $33,000 × 10% × (6 months ÷ 12 months)

= $1,650

The six months are calculated from June 30 to December 31. And, we simply use the simple interest formula so that the correct amount can come.

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