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Kendrick Campbell purchased a $25,000 municipal bond at a quoted price of 93.456 the bond pays annual interest at a rate of 3.7%. What is the annual interest?

Kendrick Campbell purchased a $25,000 municipal bond at a quoted price of 93.456 the bond pays annual interest at a rate of 3.7%. What is the annual interest?
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Kendrick Campbell purchased a $25,000 municipal bond at a quoted price of 93.456 the bond pays annual interest at a rate of 3.7%. What is the annual interest?

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User Ariel Kabov
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1 Answer

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the interest is $925.
answered
User Athan
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6.2k points
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