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3241004551 [841]
3 years ago
9

Mark Shaughnessy purchased a $4,250 bond at 91.50 that pays 7% interest. What was the cost of the bond?

Mathematics
2 answers:
pashok25 [27]3 years ago
5 0

Answer:

The answer is : $3,888.75

Step-by-step explanation:

Given is :    

Mark Shaughnessy purchased a $4,250 bond at 91.50 that pays 7% interest.

Cost of the bond = 4250\times0.915=3888.75

So, the cost of the bond is $3888.75.

Mrrafil [7]3 years ago
3 0
Bond Cost=Face Value×Percent
Bond cost=4,250×0.915=3,888.75
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