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3 years ago

6

Hal Fritz purchased a $4,000 bond at 90. The annual interest is 5%. What was the cost of the bond? What was the annual interest?

What is the yield (to nearest tenth of a percent)?

2 answers:

sergiy2304 [10]3 years ago

8 0

1) $3,600
2) $200
3) 5.6%

stepan [7]3 years ago

3 0

4,000×0.90=3,600
4,000×0.05=200
200÷3,600=0.056*100=5.6%

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