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11 April, 05:10

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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Answers (1)
  1. 11 April, 05:45
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    2000*110/100=2,200

    2000*0.06=120

    120/2200=0.0545*100=5.45%
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