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What is the effective rate

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Question - On December 31, 2020, Balbond issued 3,000 of its 5-year 6%, P1,000 face value bonds at par. Interest is payable annually every January 1. What is the effective rate?

Reference no: EM132875893

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What is the effective rate : Balbond issued 3,000 of its 5-year 6%, P1,000 face value bonds at par. Interest is payable annually every January 1. What is the effective rate
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