John has a $1000 bond with a 3% coupon. How much interest will John receive for this bond every 6 months?
2 answers:
Answer:
..$15.00 every 6 months..
If a bond cam with 3 % coupon, it means 3 % interest per year
so , if the question asked to count the one received every 6 months, the calculation would be :
$1000 x 3 % x 6/12
= $15 every 6 months
hope this helps
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