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Calculate the total amount of interest

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Question 1: Calculate the total amount of interest (not PV of the interest) a non-profit hospital will need to pay on a 10 year 1 million dollar bond that pays and an annual interest rate of 3.5% (interest payments paid one time at the end of each year till maturity). The interest is paid in a lump some at the end of the each year and the principal is payable along with the last interest payment (e.g $1,035,000 is payable at the end of year 10).

Reference no: EM132490570

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