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Hal Fritz purchased a $4,000 bond at 90. The annual interest is 5%. What was the cost of the bond? What was the annual interest? What is the yield (to nearest tenth of a percent…

Hal Fritz purchased a $4,000 bond at 90. The annual interest is 5%. What was the cost of the bond? What was the annual interest? What is the yield (to nearest tenth of a percent…
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Hal Fritz purchased a $4,000 bond at 90. The annual interest is 5%. What was the cost of the bond? What was the annual interest? What is the yield (to nearest tenth of a percent)?

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User Reut
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2 Answers

5 votes
5.13 will be the annual interest rate.
answered
User Falco Foxburr
by
8.1k points
6 votes

Answer:

4,000×(90÷100)

=3,600

0.05×4,000

=200

0.05÷(90÷100)

=0.056×100=5.6%

Explanation:

answered
User Rowman
by
8.1k points
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