Register

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 reach…

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 reach…
57.7k views
3 votes
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
9.0k points

1 Answer

4 votes

Answer:

26.556192

Explanation:

7.2×10460÷100

20000÷(7.2×10460÷100)

User Pavan Vora
by
8.7k points
← Prev Question Next Question →

No related questions found

Ask a Question
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.

9.4m questions

12.2m answers

Categories

Other Questions

How do you can you solve this problem 37 + y = 87; y =
What is .725 as a fraction
A bathtub is being filled with water. After 3 minutes 4/5 of the tub is full. Assuming the rate is constant, how much longer will it take to fill the tub?
Link Copied!