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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?
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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?
...

User Christian Matthew
by
7.7k points

1 Answer

4 votes

Answer:

26.556192

Explanation:

7.2×10460÷100

20000÷(7.2×10460÷100)

User Pavan Vora
by
7.3k points
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