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4 years ago

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]4 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]4 years ago

3 0

Bond Cost=Face Value×Percent
Bond cost=4,250×0.915=3,888.75

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