Esperanza holds a bond for 10 years that has a 4% coupon rate and a $2000 par value. How much interest would Esperanza receive i
f she purchased the bond?
1 answer:
Answer: $800
Step-by-step explanation:
Esperanza holds a bond for 10 years with a 4% coupon rate and a $2000 par value.
From the question,
Principal= $2000
Rate= 4%
Time= 10 years
Interest= (Principal×Rate×Time)/100
= (2000×4×10)/100
=80000/100
= $800
Esperanza will receive $800 if she purchased the bond
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