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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

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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Joaquim Alvez purchases 32 bonds that mature in 2024 at 96.7.

They have a coupon rate of 8.625%.

Find the annual interest

User Edwarddamato
by
8.2k points

1 Answer

2 votes
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
User Pedro Trujillo
by
8.7k points
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