Interest payments on 12% bonds with a face value of $20,000 and interest paid semiannually would be $2,400 every six months.

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Interest payments for 12% bonds with a face value of $20,000, when interest is paid semiannually, would be $1,200 every six months. This is because the annual interest of 12% on $20,000 equals $2,400, and when divided by two for semiannual payments, it results in $1,200 every six months.

Interest Payments on 12% Bonds with a Face Value of $20,000