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?

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Pablo Oliva asked Feb 13, 2023

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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

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23 votes

Answer:

26.556192

Explanation:

7.2×10460÷100

20000÷(7.2×10460÷100)

Sigar Dave answered Feb 18, 2023

by Sigar Dave

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