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Allen Stewart purchased a $2,000 bond at 110. The bond pays 6%. What was the cost of the bond? What was the annual interest? What is the yield (to the nearest tenth of a percent…

Allen Stewart purchased a $2,000 bond at 110. The bond pays 6%. What was the cost of the bond? What was the annual interest? What is the yield (to the nearest tenth of a percent…
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3 votes
Allen Stewart purchased a $2,000 bond at 110. The bond pays 6%.

What was the cost of the bond?

What was the annual interest?

What is the yield (to the nearest tenth of a percent)?

asked
User Harish Soni
by
7.5k points

2 Answers

1 vote
1. 2,200
2. 120
3. 5.5%
answered
User Chirag Sorathiya
by
8.9k points
3 votes
2000*110/100=2200
2000*0.06=120
120/2200=5.45%
answered
User Valerio Vaudi
by
8.8k points
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