dillonshawneed dillonshawneed

22-05-2017
Mathematics

contestada

Hal Fritz purchased a $5,000 bond at 95. The annual interest is 6%.

What was the cost of the bond?
What was the annual interest?
What is the yield (to nearest tenth of a percent)?

Respuesta :

Aliwohaish12 Aliwohaish12

22-05-2017

Hi there :-)

Bond Cost = Face Value × Percent
5,000×0.95=4,750

Annual Interest=Face Value×Interest Rate
5,000×0.06=300

Annual Yield=Annual Interest×Bond Cost
(300÷4,750)×100=6.32%

Hope it helps

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