Accumulated Balance is given by :
Here,
n = time period = 30×12 = 360.
P = principal price = $250.
Putting all given values in above equation, we get :
Hence, this is the required solution.
Since their is no choices he shouldn’t never touch the money and keep adding cash it increase it over time.
Answer:
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Explanation:
Answer:
Explanation:
First, convert the basis points to a percentage or decimal;
1 basis point = 0.01% or 0.0001 as a decimal
Then 443 basis points as a decimal will be;
443 *0.0001 = 0.0443 or 4.43% as a percentage
Next, since the BB bond is 4.43% above the U.S. Treasury yield of 2.76%, find the Yield to maturity(YTM) by adding the 4.43% to the 2.76%;
YTM = 2.76% + 4.43%
YTM = 7.19%
