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Joaquim Alvez purchases 32 bonds that mature in 2024 at 96.7. They have a coupon rate of 8.625%. Find the annual interest
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Dec 21, 2018
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Joaquim Alvez purchases 32 bonds that mature in 2024 at 96.7.
They have a coupon rate of 8.625%.
Find the annual interest
Mathematics
high-school
Edwarddamato
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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
Pedro Trujillo
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Dec 27, 2018
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Pedro Trujillo
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