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In the value of bonds, the symbol "M" means "thousands.
Therefore, 10 M = 10,000$
So, the customer bought a coupon with 10,000$ and the expected annual interest is 7.5% of the coupon's value.
Calculating the value of interest is simple, just multiply the interest rate (7.5%) by the original value of the coupon to know how much interest she will collect each year.
Interest collected each year = (7.5 / 100) x 1000 = 750$
Answer:
81.46
Step-by-step explanation:
Solution
Provided :-
• I have $138
• I save $12 per week
• Friend have $ 98
• He saves $17 per week
Let the number of weeks required to have same balance be x
→ 138 + 12x = 98 + 17x
→ 138 - 98 = 17x - 12x
→ 40 = 5x
→ x = 8
So we need 8 weeks
