jocekinn jocekinn

29-05-2017
Mathematics

contestada

Joaquim Alvez purchases 32 bonds that mature in 2024 at 96.7.
They have a coupon rate of 8.625%.

Find the annual interest

Respuesta :

Aliwohaish12 Aliwohaish12

29-05-2017

Hi there

Annual Interest =Face Value× Rate

Face value=32×96.7=3,094.4

So annual interest
3,094.4×0.08625=266.89

Hope it helps

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