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Mark Shaughnessy purchased a $4,250 bond at 91.50 that pays 7% interest. What was the cost of the bond?

User Amitd
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2 Answers

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Bond Cost=Face Value×Percent
Bond cost=4,250×0.915=3,888.75
User Nextar
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Answer:

The answer is : $3,888.75

Explanation:

Given is :

Mark Shaughnessy purchased a $4,250 bond at 91.50 that pays 7% interest.

Cost of the bond =
4250*0.915=3888.75

So, the cost of the bond is $3888.75.

User Corey Velan
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