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Alik [6]
3 years ago
10

Bateman Enterprises invested in the bonds of Greater Gloucester on January​ 1, 2018. These 10minus​year, $ 400 comma 000 bonds p

ay interest of 3​% with semiannual payments every June 30 and December 31. The effective rate of interest for similar bonds on January 1 was​ 4%. What is the semiminusannual interest payment received by Bateman for these​ bonds?
Business
1 answer:
BlackZzzverrR [31]3 years ago
4 0

Explanation:

\frac{400 \times 10 \times 4}{100}  \\  \frac{16000}{100}  \\ 160 \\  \frac{1}{25}  \times 160 \\ 6.4 \: intrest

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