Jason Owns a Bond with a Par Value of $1000

True/False

Jason owns a bond with a par value of $1000 issued by Ozemoore Corporation that will mature in seven years. The coupon rate on the bond is 7 percent, and he bought the bond for $900. Assuming Ozemoore lives up to its financial obligations and that he doesn't sell the bond, Jason can expect to receive $70 in interest from Ozemoore's bond over the next year.