Hal Fritz purchased a $4,000 bond at 90. The annual interest is 5%. What was the cost of the bond? What was the annual interest? What is the yield (to nearest tenth of a percent)?

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asked Jan 26, 2018 184k views

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Hal Fritz purchased a $4,000 bond at 90. The annual interest is 5%. What was the cost of the bond? What was the annual interest? What is the yield (to nearest tenth of a percent)?

Mathematics
high-school

Reut asked

by Reut

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5 votes

5.13 will be the annual interest rate.

Falco Foxburr answered Jan 27, 2018

by Falco Foxburr

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6 votes

Answer:

4,000×(90÷100)

=3,600

0.05×4,000

=200

0.05÷(90÷100)

=0.056×100=5.6%

Explanation:

Rowman answered Feb 1, 2018

by Rowman

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