Question

ryan has a $3000 bond with a 6% coupon. how much interest will ryan recieve for this bond every 6 months?

Answer 1

$90.00

Explanation:

a.p.e.x

Answer 2

$90 interest will Ryan receive for this bond every 6 months.

Explanation:

We are given that Ryan has total bond of amount $3000.

Rate of interest = 6% per annul.

Time = 6 month =
`(1)/(2)` of a year.

Formula of simple interest =
`PRT`, where P is the bond amount, R is the rate of interest per year and T is the time in years.

Plugging values P= 3000, R= 6% = 0.06 and T=
`(1)/(2)` in above formula, we get

I = 30000×0.06 ×
`(1)/(2)`

I= 90.

Therefore, $90 interest will Ryan receive for this bond every 6 months.