Emily purchased a bond valued at $20,000 for highway construction for $10,460. If the bond pays 7.2% annual interest compounded monthly, how long must she hold it until it reaches its full face value?

My account
Edit my Profile
Private messages
My favorites

Ask a Question
Questions
Tags
Categories
Ask a Question

Pablo Oliva asked Feb 13, 2023

145,333 views

30 votes

Emily purchased a bond valued at $20,000 for highway construction for $10,460. If the bond pays 7.2%

annual interest compounded monthly, how long must she hold it until it reaches its full face value?
...

Mathematics
college

Pablo Oliva asked Feb 13, 2023

by Pablo Oliva

2.8k points

0 Comments

Your comment on this question:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Your answer

Email me at this address if my answer is selected or commented on:Email me if my answer is selected or commented on

Privacy: Your email address will only be used for sending these notifications.

1 Answer

23 votes

Answer:

26.556192

Explanation:

7.2×10460÷100

20000÷(7.2×10460÷100)

Sigar Dave answered Feb 18, 2023

by Sigar Dave

3.3k points

0 Comments

Your comment on this answer:

Email me at this address if a comment is added after mine:Email me if a comment is added after mine

Privacy: Your email address will only be used for sending these notifications.

Ask a Question

Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

1.6m questions

2.0m answers

0 Comments

Your comment on this question:

Your answer

1 Answer

0 Comments

Your comment on this answer:

Other Questions