A company purchases seven, $1,000 face amount bonds as an investment on October 1st of the current year. It pays face amount for the bonds and is going to hold them to maturity. The annual interest rate on the bonds is 6% and interest is paid on November 1st and May 1st of each year. If the investor's accounting period ends on December 31st of each year, how much Bond Interest Revenue will it accrue on December 31st of the current year? $50. $60. $75. $70. None of the above.
