At 1 June 2017 bank Muscat issued CD in Muscat securities market with face value of 10000 OMR. This CD will mature in 10 November 2019. The CD pays 8 percent interest rate. Calculate the interest payment on this CD.

At 1 June 2017 bank Muscat issued CD in Muscat securities market with face value of 10000 OMR. This CD will mature in 10 November 2019. The CD pays 8 percent interest rate. Calculate the interest payment on this CD.

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter13: Long-term Liabilities

Section: Chapter Questions

Problem 6MC: On July 1, a company sells 8-year $250,000 bonds with a stated interest rate of 6%. If interest...

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At 1 June 2017 bank Muscat issued CD in Muscat securities market with face value of 10000 OMR. This CD will mature in 10 November 2019. The CD pays 8 percent interest rate.

Calculate the interest payment on this CD.

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