Mathematics
cojo
40

Fred Salmon purchased seven $1,000 bonds at 83. The bonds pay 6.5%. What was the cost of the bonds? A. $7,000 B. $5,810 C. $830 What was the total annual interest? A. $65 B. $455 C. $377.65 What is the yield? A. 7.8% B. 7.1% C. 6.5%

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richboy

Given: bond: 7 pcs of $1,000 @ 83 bond pays 6.5% What was the cost of the bonds? 7 * 1,000 = 7,000 7,000 * 0.83 = 5,810 Choice B. What was the total annual interest? 7,000 * 6.5% = 455 Choice B. What is the yield? 6.5%

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