PLEASE!!! I NEED HELP WITH THIS ASAP!!!
1 answer:
Part 1
Total paid
=cost of the bond+commission
Total paid
32×96.7+32×10=3,414.4
Part 2
Annual interest
32×96.7
=3,094.4
3,094.4×0.08625
=266.892...Annual interest
Part 3
The effective interest rate
((1+0.08625÷12)^(12)−1)×100
=8.974%
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