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31 October, 00:45

Joe McCain purchased 5 $1,000 bonds at 89. The bonds pay 6%. What was the cost of the bonds? What was the total annual interest? What is the yield?

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Answers (2)
  1. 31 October, 03:08
    0
    1,000*0.89=890

    1,000*0.06=60

    60:890=0.0674*100=6.74%
  2. 31 October, 03:15
    0
    1. $890

    2. $60

    3. 6.7%
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