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Using the effective interest method how much interest

On 7/1/15 an investor paid $94,000 for 8%, $100,000 bonds when the market rate of interest was 10%. Interest payments are made annually on 6/30. In 2016 the market rate of interest rose to 11%. Using the effective interest method, how much interest income is recognized by the investor in 2016?

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Accounting Basics: Using the effective interest method how much interest

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